its soo price inefficient that 3 T-34-76s cost more than 2 panzer 4s but will lose 5/5 times in a fight frontally at any distance despite costing more than the P4...
and again you're ignoring soviet teching... it takes around the same fuel to buy an ostheer panzer 4 and a T-34....
Everyone's gotta remember that the units don't exist in a void. The real question should be:
"for the same resources and popcap, can I field unit(s) that can counter the unit(s) in question."
So whatever state the T34 may be in, if the difference in resource cost between that and a P4 nullifies the P4s advantage when expended. Then it is balanced.
e.g A t34 & an AT gun
Obviously it will never be an exact science and an AT gun can't move like a tank, but that asymmetry is what makes the factions different. And depending on the no. of units of a type deployed the enemy, your force composition may have pivot to other solutions like SU-85s to maintain the approx. equal power level because unit specialization and economies of scale/numbers also play a role.