this is true, but nerfing infantry hp would then indirectly buff all weapons against infantry. personally, i dont think tanks, flamers, mortars, mines, grenades, etc need a buff. thats why buffing rifle damage would be the better solution (burst weapons are already strong enough).
True, a rifle doing 10 damage to 50HP is the same as doing 200 damage to 1000HP, in the end they're all just arbitrary numbers.
Besides that, I feel the problem isn't so much with the damage vs health (although it doesn't help) as it is with the armour system. vCoH had a great armour system, you could balance anything vs anything. The new system unfortunately, just piles RNG onto the unit, in the form of % chance to deflect all damage. This is most noticeable on Ost Snipers, who can either CQB a Conscript Squad or be killed in the first volley at max range by Engineers, depending on how the RNG rolls it.