you are right here, as I've said(and will keep saying) they are "armored support" for my native translation
Also, which shermans do you mean? Because it pounds stock ones easily with skirts(it got 206 or 208 armor, almost as much as EZ8) and penetration like regular P4.
Its fine as it is, especially now that it got cost reduction.
What kind of performance do you expect for 90fu per tank?
I mean EZ8s and M4Cs will beat them head on. Even stock Shermans can kite and kill them. Their turret traverse is their Achilles heel. In such case armor becomes irrelevant.
They're quite good in a supporting role but cannot be used themselves without support. That doesn't qualify them as "elite armor".
But yes, you are right, they perform well for their cost.