Sheol means hell in hebrew. It is mentioned 65 times in the Old Testament.
Judaism was the first Abrahamic religion. It has no concept of Hell or eternal punishment.
Christianity came next and invented, seemingly out of thin air, Hell despite basing itself on the Jewish religion.
Islam too has a "Hell." Basing itself off of Christianity and Judaism both.
But if the first religion had no Hell, and was true enough to base the latter two upon, but the latter two added Hell, are they right or wrong?
Sheol does not mean hell in Hebrew. It's more analgous to Hades (a place where all the dead go.)
SHEOL - JewishEncyclopedia.com
Catholic Encyclopedia's entry for Hell is informative.
CATHOLIC ENCYCLOPEDIA Hell
"Hell (infernus) in theological usage is a place of punishment after death. Theologians distinguish four meanings of the term hell:
* hell in the strict sense, or the place of punishment for the damned, be they demons or men;
* the limbo of infants (limbus parvulorum), where those who die in original sin alone, and without personal mortal sin, are confined and undergo some kind of punishment;
* the limbo of the Fathers (limbus patrum), in which the souls of the just who died before Christ awaited their admission to heaven; for in the meantime heaven was closed against them in punishment for the sin of Adam;
* purgatory, where the just, who die in venial sin or who still owe a debt of temporal punishment for sin, are cleansed by suffering before their admission to heaven."
A 'place of punishment' then is not the same idea as Hades or Sheol where all dead go whether good or evil, to be rewarded or punished. They're completely different ideas.