Its all relative. A few percent better target size isn't terribly noticeable. They may not be "squishy" but they are not durable by soviet standards.
If they are not "squishy" you agree with my point so I am not sure what you want to debate. I have not called the squad as extremely durable by any standards so I am not sure why you make it appear so in your post.
They would be incredibly durable for Ostheer. But they sre not Ostheer squads. They are soviet squads, and by that metric they are not really durable.
Paras are tanky, because their base infantry are only 5 models. They have a whole extra man slapped on there and that makes a huge difference.
You analysis is simply flawed.
Paras bring allot more than just an extra entity, they bring Elite carbines/SMG/LMG/Elite bazookas. If it was the extra model that made the difference Ranges who are also 5 entities would not be used.
Everything is relative. And an average 6 man squad isn't anything special for soviet REGARDLESS of how great the same 6 man squad would be for any other faction.
Again I personally don't have an input on how they feel because I have not used them yet, but I can absolutely see the perspective of why some might feel they are underwhelming as RELATIVE to the soviet, they arnt really anything special.
One does not get assault guards because of the "superior durability" but because of their superior firepower. And their firepower is superior.
I suggest you use them or test the version that available in live (which is weaker) instead of theory crafting since as you say you have not used them.
Finally units are balance with what they have to fight and Assault guards can fight axis units just fine. They are probably one of the most cost efficient units.