I think the semantics of "He took the punishment I was going to receive" to be misleading, because that is obviously not how it worked. You are right to point out that, on this definition of atonement, the sacrifice seems to be insufficient.
Now I'm no theologian, but an argument could be made for the fact that redemption isn't worked out "quantitatively," as it were, but rather "qualitatively,"(for lack of better terms) in that it was the quality of the Jesus Christ, namely His moral perfection, that rendered His substitutionary punishment in any way sufficient for the redemption of the world. Now, one could make an argument that, on this definition, how [or perhaps the quantitative means by which] Jesus was punished seems arbitrary, but that seems as though it would probably be an in-house theological debate rather than any reason to disbelieve the concept of Christalogical redemption.
Now I'm no theologian, but an argument could be made for the fact that redemption isn't worked out "quantitatively," as it were, but rather "qualitatively,"(for lack of better terms) in that it was the quality of the Jesus Christ, namely His moral perfection, that rendered His substitutionary punishment in any way sufficient for the redemption of the world. Now, one could make an argument that, on this definition, how [or perhaps the quantitative means by which] Jesus was punished seems arbitrary, but that seems as though it would probably be an in-house theological debate rather than any reason to disbelieve the concept of Christalogical redemption.
"I know what you are thinking about,' said Tweedledum: 'but it isn't so, nohow.'
'Contrariwise,' continued Tweedledee, 'if it was so, it might be; and if it were so, it would be; but as it isn't, it ain't. That's logic." ~Tweedledum and Tweedledee discussing the finer points of logic
'Contrariwise,' continued Tweedledee, 'if it was so, it might be; and if it were so, it would be; but as it isn't, it ain't. That's logic." ~Tweedledum and Tweedledee discussing the finer points of logic