I don't believe he's being punished either.
As someone that has been following the company one way or another - I mainly keep up with results these days, even for the G1 - for more than a decade, I've been dying to see fresh stuff for a long ass time now. Ibushi having a belt and defending it in New Japan would qualify as one to me, he could've gotten a run ever since he lost to Nakamura at WK 9. That's practically three years (not counting 2016 of course) were instead of using a guy that draws and is useful in many ways like Kota - good and fresh matchups, can elevate others if needed - they prefer to use him as a special attraction, and to me that's a mistake.
You mentioned Naito's last IC reign, that was preceded by a MiSu run that never felt like it truly started and a run by Tana that went for way too fukking long. There was no reason to not give a guy like Kota that belt and let him run with it, the dude sold out Osaka with the quickness as soon as a title match against Tana was booked, but nothing was made out of that.
What's frustrating about Gedo's booking, and that has driven me away from following the company like I once did, is that everything takes years to happen and when it finally does, it doesn't feel like the long wait was worth it, because the in-between time is just the same shyt over and over and over again. I've been told to "wait and enjoy the matches meanwhile" for 3 years with Naito, now I'm being told the same about Ibushi and Naito still hasn't gotten his run