3. Atlanta has far safer options in front of them
Penix is the right system with a bit of injury luck is absolutely a top 15-20 starter in this league. For those who watched the college playoffs this past weekend, you saw exactly why. Watching Michael fit in some of the throws he did against Texas was truly impressive. However, Atlanta shouldn't be taking such a big risk at the position with their recent history of swings and misses.
It is far better to look at safer options with a potentially lower ceiling. The top choices of proven quarterbacks should be signing Kirk Cousins or trading for Justin Fields. Or if the Bears opted to keep Fields spend what it takes to move up in the draft to take a shot at Caleb Williams or Drake Maye. If Atlanta makes the right choice between the two the draft picks you spent won't matter.
There is also the less exciting but safer option of adding Russell Wilson on a cheap deal and drafting a quarterback later on. Atlanta has a myriad of options that are both a vast improvement of their current position as well as avoiding taking the risk that Penix would be.