No one ever taught this until Luther and Calvin. All the ancient, authentic, historical churches (Catholic, Orthodox, etc.) reject penal substitution as heretical. And why wouldn't they? Since it utterly does away with the need to keep their commandments or participate in their rituals.
Until relatively recently, chrstians didn't believe G-d poured His wrath on J*sus. They believed the crucifixion was the "greatest crime in history" and hated the Jews for "perpetrating" it. I suppose according to them it never should have happened.
What do you consider recent? I’ve always believed that Jesus is the atonement, that God poured all His wrath out on Him. The earliest Christians and Apostles were Jews. They just rejected the Law as being the path to forgiveness, and recognized that Jesus fulfilled the Law.
יְהוָה עֹז־לָמוֹ וּמָעוֹז יְשׁוּעוֹת מְשִׁיחוֹ הוּא
Yeshuot Mashiach Hu!
Yeshua is my Kapparot