True, in a sense. However, the Penguin was clearly working on the "1st born son" angle early on in the movie, however he suspended it when his attempts to take over as the mayor became so successful. He was willing to put his aside his thirst for vengeance if the people of Gotham were willing to love him. He only acted on his scheme after he'd been rejected by the people.
That says a lot about him.
That says a lot about him.