Am I not considering something?
Yes. You are not considering Mir, Soyuz, and the Space Shuttle.
The International Space Station is a multinational program, jointly led by the US and Russia. While the US and Russia had to compromise on many design decisions, the makeup of the breathing atmosphere was not one of them. The decision to pressurize the ISS to one atmosphere with a standard mix of nitrogen and oxygen was probably one of the easiest design decisions agreed upon by those two countries. The Mir space station, the Soyuz capsules, and the Space Shuttle were all pressurized to one atmosphere. Making the ISS breathing atmosphere be anything but one standard atmosphere would have required extensive redesigns of the Soyuz capsule and the Shuttle, and would have precluded reuse of the Mir environmental control systems.
The real question then is why the breathing atmosphere in Mir, Soyuz, and the Space Shuttle is a standard atmosphere, both in terms of pressure and composition. There are significant advantages to a reduced pressure, pure oxygen environment. Such an environment reduces spacecraft mass, structural integrity issues, and complexity. A pure oxygen environment eliminates the need to carry nitrogen tanks, eliminates the need to carefully monitor the oxygen/nitrogen mix, and eliminates the possibility of the bends (decompression sickness). The reduced pressure means the spacecraft can be a bit less bulky as well. There are additional advantages, particularly with respect to EVAs. Both the Soviet Union and the US initially planned to use pure oxygen breathing atmospheres.
The Mercury, Gemini, and Apollo breathing atmospheres were pure oxygen. The Apollo 1 fire modified how that pure oxygen atmosphere was attained, but it did not change that the breathing atmosphere was transitioned to pure oxygen shortly after launch. The issues associated with a pure oxygen breathing atmosphere made NASA shift to having some nitrogen in the Skylab breathing atmosphere, but not much. The Skylab breathing air was 75% oxygen, 25% nitrogen. The use of a pure breathing atmosphere in the Apollo spacecraft continued to the very end, which created challenges for the Apollo-Soyuz test mission.
The Soviet space program switched from a pure oxygen atmosphere to standard atmosphere very early on. Valentin Bondarenko died in a pure oxygen fire three weeks before Yuri Gagarin's historic flight. Having a standard atmosphere mix drastically reduces the likelihood and severity of fires, and also greatly simplifies the pre-launch process. A pure oxygen atmosphere requires extensive pre-breathing to purge nitrogen from the bloodstream. A standard atmosphere meant the cosmonauts could enter the capsule without wearing a helmet and they were physiologically ready to go.
NASA eventually learned these lessons, too. The Space Shuttle used a standard atmosphere. Having a standard atmosphere in the ISS was the only logical decision.