That script font would look more at home on a high school varsity baseball jacket. Or I could see it on a cheerleader's uniform. It seems quite out of character for a football field.
I don't understand what was wrong with the old "worm" font that went with the "chipmunk" lion logo. It was distinctive and looked great on anything. But, of course, it was introduced during the 1980s when Penn State won two national championships under that coach whose name shall forever be forgotten. We wouldn't want to keep anything around from that era, would we? I suspect the "chipmunk" logo will be the next to be consigned to the round file.