The turning Punisher into comic relief kinda happened. Frank Castle used to be a literal Frankenstein in the comics. They tried to change him and utterly failed. They’ll still reference it every once in a while.
Great analysis! I think you really nailed the reasons behind good/bad character changes. Peacemaker as a series is a refreshing change from recent superhero shows. I find it's Vigilante a more charming/funny version of Deadpool.