Yes. There are penal aspects. But that does not make it Christ experiencing God's punishment (you assume that is in the text).I'll throw this out in case someone other than you might indeed be interested. 1 Peter 2:24 states substitution. It doesn't completely explain penal substitution. But you also have the facts of what is being discussed in the passage. If you are willing to agree that "on the tree" is referring to the crucifixion on the cross, and you think about what that entailed, you start getting an understanding of the penal part.
That makes it penal. Penal substitution.
I don't know what else to say. The only rebuttal worse than yours is the one in "Catholic Answers". They are slightly more obnoxious, and less subtle.
You are forgetting that without the shedding of blood there is no forgiveness because it is necessary BUT in the Bible the actual atonement was made by the priest applying the blood.
I know you find my rebuttal ("but what does Scripture say, what is written") obnoxious.
But that is because you find Scripture itself (the actual words of God, the biblical text) obnoxious absent what those leaders in your sect who tickle your ears tell you is really taught.
There is a reason you turn from "what is written" to an "easy believism" theory. It is normal for natural man to seek out what is pleasing to the flesh. It is natural to seek out a fairly benign and shallow theory than accept God's words which call foe legitimate change and the abandonment of ourselves.
I do not fault you for that because I did it for decades. But that does not mean I will stop pointing to God and "what is written" because you find it obnoxious.