No, looking at the same thing. The shield has a subtly rounded bottom. It isn’t a U, but taken together with the url, I can see where it could subconsciously reinforce the upenn label. Not so much when used with other words, like “News” and “Admissions” (post #8).
But the third one down in the style guide–where the shield is just as tall as the P of Penn, and against the white background, it does reinforce the misconception IMO, especially when a h.s. kid is familiar with the upenn URL. @dfbdfb brought this up in post #59.
I grew up in Pennsylvania–I do know the difference. I’m just saying that to those unfamiliar, that particular logo could add to the confusion. Or, at least, certainly doesn’t help in lessening the confusion.