Winrate has nothing to do with balance since matchmaking can always compensate the lack of balance with ELO.
Not that I'm saying the balance is off in 2vs2 but the argument isn't valid.
CoH2 history and its 40-60% faction win rates at times would disagree here.
Perfect balance will never be achieved in asymmetrical game, but we're closest we've ever been across all 3 games so far.
Anti-all blobs and super heavy IWIN tanks not existing really contribute here in my opinion. Slower pace and lack of vehicle inf crush on non pinned infantry is a significant factor as well.
Overall, in CoH3 we have actual Italian forces, yet there seems to be very little cheese, even FRPs are very manageable(once coastals get across the board nerfs)