By your lights Paul, the early Church fathers, saints, martyrs, theologians, scholars, all got it wrong in believing the literal terms of Eucharistic consecration.
A sign of the reality of Presence of Christ in the Eucharist may be seen in what St. Paul wrote to the Corinthians, in which he not only repeated the words and actions of the Last Supper but notes the punishment upon those who unworthily receive the Holy Eucharist:
11:23 For I received from the Lord what I also delivered to you, that the Lord Jesus on the night when he was betrayed took bread, 11:24 and when he had given thanks, he broke it, and said, “This is my body which is for you. Do this in remembrance of me.” 11:25 In the same way also the cup, after supper, saying, “This cup is the new covenant in my blood. Do this, as often as you drink it, in remembrance of me.” 11:26 For as often as you eat this bread and drink the cup, you proclaim the Lord’s death until he comes. 11:27 Whoever, therefore, eats the bread or drinks the cup of the Lord in an unworthy manner will be guilty of profaning the body and blood of the Lord. 11:28 Let a man examine himself, and so eat of the bread and drink of the cup. 11:29 For any one who eats and drinks without discerning the body eats and drinks judgment upon himself.
The references I pointed to, in Mark and Luke, are not be ignored so that other teachings can take preeminence. There is harmony in the scriptural teachings. That is why Paul’s teachings to the Corinthians is further proof of the ‘Lord’s supper’ being done “in remembrance of” Christ. These people have already been baptized into Christ. The Lord’s supper is a solemn event done in remembrance of him. The chapter starts with his rebuke of the members chowing down at the church house, and shortly thereafter partaking of the Lord’s supper in a nonchalant manner. Paul ends the rebuke by referring again to eating of meals to satisfy hunger, and that it should be done in their own homes, completely apart from church service.
Also remember that Paul begins the epistle by addressing them as “the church of God, which at Corinth, to them that are sanctified in Christ Jesus, called to be saints....(1Cor. 1:2)
Those intros are commonly ignored by many that claim Christian conversion is taught exclusively in the epistles, completely sidestepping the commands of Peter that were initially taught in Acts 2:38.