the p4 was considered slightly superior to 85 . this was an assessment that the soviet commanders made during testing according the red army handbook. in fact one of the key reasons the germans lost was they focussed to much on quality over quantity. doesnt change the fact however that the t-34 where very bad tanks.
The T-34 are better than Pz IV G in some areas like speed, terrain crossing... while made up for all other disadvantages by the easiness to repair and produce, with less skill required for workers.
A Panzer IV G cost 103 462 Reichmark without weapons.
A Panther cost 117 100 Reichmark without weapons, optics, or radio.
As we can see, a 'superior' version of the Panzer IV cost nearly as much as a Panther!!
While a T-34 only cost roughly half the Panther.
In fact, T-34 was a newer and better design. If the Soviet really want they can easily produce better quality versions but that does not justify the cost, time and workers to produce it, so they didn't. That's why German tanks maybe better one vs one but they lost as a whole.
And in case you mention about win loss ratio, as the war went on Soviet become the attacking force then the most dangerous threats for the T-34 was hand held AT and AT gun, not German tanks. So win loss ratio didn't say the whole story.