Jukka Mikkonen argues that the cognitive benefits of narrative should be explained in terms of understanding rather than knowledge. An apparent consequence of Mikkonen’s view is that ‘plot-based’ conceptions of narrative are less interesting than has long been supposed. I argue that, although the concept of understanding does indeed outperform the concept of knowledge in this area, it would be a mistake to conclude that knowledge of plots is unimportant. Doing so ignores the distinctive kind of understanding gained from trying to shape events into an orderly plot but failing to do so.