  We argue that the broad-band observations of the brightest-of-all-time (BOAT)
GRB 221009A reveal a physical picture involving two jet components: a narrow
($\sim 0.6$ degree half opening angle) pencil-beam jet that has a
Poynting-flux-dominated jet composition, and a broader matter-dominated jet
with an angular structure. We discuss various observational evidence that
supports such a picture. To treat the problem, we develop an analytical
structured jet model for both forward and reverse shock emission from the
matter dominated structured jet wing during the deceleration phase. We discuss
the physical implications of such a two-component jet configuration for this
particular burst and for GRBs in general. We argue that some bright X-ray
flares could be similar narrow jets viewed slightly outside the narrow jet cone
and that narrow jets may exist in many more GRBs without being detected.
