It's one thing to meet certain requirements, but it is another to exceed those requirements. Yes you are correct, the oil molecules do not wear out, but the additives do. And its those additives in pennsoil that cause the sludging and problems I have personally seen many many times first hand.
At the end of the day, everyone has their own opinion. Personally I have run nothing but mobil 1, valvoline and motorcraft with 0 issues. The oil is always in good shape(for used oil) when I change it, every engine I have torn down after using these oils have shown little to no sign of abnormal wear. The engine in my mustang now, I removed it with the intensions of a coyote swap. While the engine was out I checked the bearings out before trying to sell it, and they looked just as new as when i had installed them 5k extremely hard miles ago. I ended up putting a smaller cam and putting the motor back in the car for now and it runs great, makes 80 lbs of oil pressure. I run mobil 1 10w-40 in it with a motorcraft filter.
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