I disagree, the reason the panther was used was sheer survivability. You could lose a StuG III twice before you'd lose a Panther in the same situation (70% more health and 90% more armor plus turbo switch). People used the Panther because it could either be sat on the frontlines or used to bullrush the enemy with little fear of it being easily destroyed. Consistency certainly isn't the main concern because the Panther's inability to hit targets consistently was long considered it's main detractor alongside cost, until the recent patch buffed it.
I didn't say the Panther's penetration was the only thing it has going for it. It was a more general point that players tend to prefer a reliable unit over an RNG one (which we can see when looking at the patches over the last years across all types of units and in general the changes have been perceived positively).
A single StuG has actually slightly better (calculated, so theoretically expected) damage output than a Panther, even against an IS2, and you can buy two of them for a similar price. And if we consider that there will be a TD and ATGs pushing as support, even the Panthers armor and health advantage is not as big anymore. Now don't get me wrong: I am not saying the Panther does not have any advantages, what I am saying is that with a bit of micro, you can organize a defense against an IS2 just as effectively with StuGs. However, every now and then, the first shots will just bounce or miss, and if one of your StuGs will have to retreat at that point your defense is quite weak. The Panther is WAY more reliable in that regard.
I have defended with StuGs against heavies already. It works. Sometimes you can miraculously delete a heavy tank within the blink of an eye almost. But sometimes your whole defense breaks due to RNG and you can do nothing about it.