I only partly agree. It´s definitely overpriced... but also under-performing.
For that cost and an end of the tech tree unit it offers less dps than a Panzer IV. Also it has the health pool of one T-34/85 (which comes in a double pack).
The high penetration values offer almost nothing over the gun of a Panzer IV in a game where medium tanks (aka only average armor) are spammed and 50 range can´t be utilized chasing down hostile vehicles. The gun of the Panzer IV however can fire in a faster succession - thus being the better gun overall in most scenarios.
That being said: Either give it a faster rate of fire or more health.
