Soviet Anti-Tank comes with a similar PTAB bombing run. This one has a bigger aiming area so easier to hit with, it only does about 300 damage: it won't kill a medium that sits in the blast zone.
Did you try testing it on larger targets? Because one of the reasons its weaker against mediums is the bombs are more spread out. It still does a good amount of damage against elefants, JTs (more surface area to hit)
Edit: Just used it in cheat commands against JTs and Elefants, you can consistently take out more than half their health. Got an elefant to below 1/4 health with one of my tests, still a very good ability. Also stuns the tanks which il2 rockets dont do
The same reason its easier to hit with is the reason its not great against mediums. The bombs are meant to cover a wide area as opposed to the rocket run which is very concentrated but easy to miss with
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