No i disagree. Your calculation only show over nerf if head to head with a panther. 120 will still dominate all other T3 tanks. By reducing damages, it balances out with more chance of axis T3 tank to pen it and drain hp. The same issue with reducing panther armor to allow T3 units to fight it.
Why should Churchill concern with panther 1v1? Ukf have enough units to compose an army to support 120 Churchill main gun. should we make shreks 160 damage too, cos heck unit composition.
But as you say, the boss have the last say. Those with powers wins and will never go back after publication, there are those who can trademark best spot ever or pat themselves with symbolic 5 fuel 'overperformance' penalty or just 'decent' 240/180/1400 survivability.
But i believe in democratic freedom of speech, things may change for better or worse, just because we care. Trump may be president today, who knows what if next year.
So your point is that you want to nerf the main gun of a UKF battle tank to match a Shrek (120), except that it will have about 50 less pen than a shrek. What a brilliant idea! Then the balance team could turn around and nerf all of the axis tanks to match the bazooka. I don't know if they could do the less penetration part of the match though, I'm not sure if the bazooka even has 50 pen.