Imagine if The Sopranos was "The Penguins" instead, or The Wire was "Gotham Beat". Any value added there? Or just handicaps?
If it's good it doesn't matter as it's a win-win. I simply don't see the problem with your two ideas, and that's exactly how I feel with this show.
Also, you're taking this show's concept as an 'either/or' situation, when as far as I'm aware there was never an 'either/or' here. They had a vision for a penguin show based in this universe and executed on the concept. You're acting like they took a pre-existing script from a different cancelled show and retrofitted it into this Penguin show. I guess the latter could be more upsetting if it were a thing, but people still wouldn't care as much as long as it was good