Worth remembering that were it not a tourist route it would likely be running every 2-3 hours at absolute best not hourly and so the locals are also clearly benefiting and the walk from Market Jew St to the Bus Station is down hill when shopping laden, not that onerous and managed just fine by those coming in from the East on Tinners. Worst case catch a different local bus up and down as they'll likely have an OAP pass. The delays passing through Market Jew Street don't justify doing it in my view as they can be very substantial and crawling round the back roads just before is equally slow so it makes complete sense in my view both commercially and for passengers. For locals they also now have more likelihood of making train and onward bus connections than before due to reduced congestion delays.
Yes, a good point regarding frequency of course.
Not such a good point saying that the walk to or from the bus station that wasn't needed before is just fine. The point is taking away something that was there before.
You seem to be attributing all the delays to the A1/2/3 over the years to Penzance Town centre, which is simply not true. The main delays occur on the sections of route where the roads are not wide enough for two vehicles to pass. They section of route between Treen and the Porthcurno turn is a particular bottleneck, as is almost anywhere between Morvah and Zennor. Also, Chywoone Hill is increasingly horrendous because it simply cannot take the volume of traffic combined with parking all the way up. Unfortunately it's the only road that can be used to serve Lamorna even if you decided to leave Gwavas Turn and Sheffield exclusively to the 5.
It's obviously a commercial decision by First Kernow and I understand why they've made it. However, personally as someone who has been intimate with the area for well half a century and a strong advocate of bus use I don't particularly like it.