Four months after sitting last on the ladder entering round 13, Penrith are now one win from a grand final following a record-breaking 36-8 first half on Sunday.
And while the Bulldogs added some respectability to the scoreline late on in front of 56,782 fans at Accor Stadium, they were still condemned to follow minor-premiers Canberra out of the finals in straight sets.
The good news continued for Penrith after fulltime, with Liam Martin (ribs) and Casey McLean (hip) gaining a clean bill of health after finishing the game early.
Already the first team to win four straight titles in almost 60 years, the Panthers must buck history as the only side to lift the trophy from outside the top four in the NRL-era.
But based on Sunday's form, they look as big a threat as any remaining team, with the Broncos on notice ahead of next Sunday's clash at Suncorp Stadium and Melbourne and Cronulla on the other side of the draw.
Nathan Cleary was at his brilliant best, kicking a 40-20, scoring a try and having a hand in almost everything Penrith did.
Moses Leota, Lindsay Smith and Isaiah Papali'i were immense up front, while wingers Paul Alamoti and Brian To'o bagged five tries between them.
Five-eighth Blaize Talagi also impressed on both sides of the ball, in a game where there was barely a Penrith player who didn't star.
"It was pretty good. Very good," coach Ivan Cleary said when asked if that was his side's best 40 minutes.
"After last week it felt like every team member was playing well, so that gives you a lot of confidence.
"We connected well both sides of the ball in the first half."
Penrith's halftime lead was the largest in finals history, as the Bulldogs missed 42 tackles in the first half alone.
It was a brutal end for a Bulldogs side who spent half of the regular season at the top of the table, before winning just five of their last 13 games.
"We ran into a champion team that knows what it takes to win those big games," Bulldogs coach Cameron Ciraldo said.
"That was a nightmare that first half, and very hard.
"They were near perfect and we were off the mark in the first half.
"(But) to come out the second half and attack the game the way they did made me really proud."
Questions have been asked about Canterbury's decision to sign Lachlan Galvin mid-season, but he was easily the Bulldogs' best on Sunday.
The 20-year-old scored one try and set up another, as Canterbury at least exposed what may be Penrith's one weakness - their right-edge defence.
Otherwise, Canterbury were well and truly beaten on the edges without injured captain Stephen Crichton.
Up against the best defensive team of 2025, the Panthers threw the ball around with confidence and produced some of their best attacking football of the season.
Paul Alamoti found space in the lead-up to each of Penrith's first three tries, as they repeatedly attacked the edge where Matt Burton was filling in at centre.
One Cleary try came after Lindsay Smith and Papali'i both offloaded in the lead up, before the half passed to Alamoti and loomed up on the inside to score.
Cleary had the ball on a string, running it down the short side on the last tackle in the lead-up to another try that ended with Brian To'o kicking for Papali'i.
Mitch Kenny kicked out of dummy-half for another, while Blaize Talagi put a hit on Burton and helped lay on a try for To'o in another first-half effort.
To'o turned provider after the break, intercepting a Bronson Xerri pass and going 50 metres before Alamoti crossed on the next play.
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