Why do many Christians think that Holy Communion is just a symbol?

BCRanger10 u
The Catholic Church - which, for the record, is entirely Christian (some dispute such) - teaches that Holy Communion is the Body and Blood of Christ Himself. Other Christian denominations though believe that it is just a symbol. How can this be?

Even without referring to Saint Thomas Aquinas or the Church Fathers, and if we just look at the Bible, the latter position doesn't add up.
  • Three of the four Gospels report Jesus at the Last Supper holding up bread and wine and saying "... this is my body..." and "... this is my blood...", respectively. Saint Paul, in his First Letter to the Corinthians, also reports likewise.
  • In the same letter, Paul issues a clear warning to those who receive Communion unworthily. Why would he do so for a mere symbol?
  • Then, perhaps the most telling, there's the sixth chapter of John's Gospel, which reports Jesus identifying Himself as the bread of life and saying "... my flesh is food indeed and my blood is drink indeed." Where is the symbolism here?
Then, there's also the priest-king Melchizedek's offering of bread and wine, according to Genesis 14, to which Psalm 110 and Hebrews 7 also refer back.

With all this established, how and why do other Christians believe that Holy Communion is just a symbol?
Why do many Christians think that Holy Communion is just a symbol?
Why do many Christians think that Holy Communion is just a symbol?
Why do many Christians think that Holy Communion is just a symbol?
Why do many Christians think that Holy Communion is just a symbol?
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