According to a study of over 100,000 penalties by InStat, about 75% end up in goal [1]
It's easy to argue therefore that they fulfill their objective within the rules of football: to concede significantly positive scoring odds to an opponent who has otherwise been denied the opportunity to do so.
From what perspective are most penalties poorly taken? Classical mechanics, aesthetics...?
[1] https://instatsport.com/football/article/penalty_research