It has 960 health and its armor is still 100 better than any allied medium tank. 50 range also still gives a huge advantage over any medium on top of those things
I understand what you say, but you must also post the allied tanks pen to turn those armor values into %pen at different ranges. That coupled with in game dynamics and economy, therefore becomes a very complex equation.
But to summarize, In game footage proves panthers are lagging behind.