Kick play

[Mike L]

And what does the first touch rule do but allow R to take the ball at that spot? Nothing, despite your efforts to make it more than it is.

"R may take the ball at the spot of first touching or they may choose to have the ball put in play as determined by the action which follows first touching".

That's it. They lose the rights to first touch because of the accepted penalty, per rule per fundamental. The action that follows is K recovering R's fumble, which also goes away because of the accepted penalty. PSK is not an option because condition 5 for PSK is not met. Leaving us, yet again, with previous spot enforcement. This idea that the first touch somehow trumps everything else that may happen during the down and guarantees R the ball has no support within the rule(s) or the fundamentals.

But really, I'm tired of arguing it. Rule it anyway you wish if it ever happens, no skin off my back.