And you know what would that translate to?
~1600 health with current armor.
Except... it doesn't.
There's a huge difference between a high health and high armor unit.
Doctrinal wise Axis may rely on designated "super high" pen units, which won't work properly vs. this unit.
Same goes for flanking. A high hp pool is way less prone to flanking / rear armor shots.
Just think about this for a second: you need twice the rear armor shots on a Churchill, in comparison to a KV series, or any other "Heavy". Not 5... 10 penetrated rear armor shots. That's not a slight difference anymore.
And last but not least: Relic use, more or less, certain HP values for certain tank classes, and those < 40 ton Churchills just don't fit in with 1600hp, at all.
It's not intuitive, and doesn't make any sense either.