It is BS, the Soviet's used US Bazooka's which were pretty crappy. The Panzerschrek was astronomically better, and the Panzerfaust/Faustrpatrone, despite having shorter range and less accuracy has even better penetrative power.
MoW is very realistic and horribly unrealistic at the same time. The decision to cap off gun ranges at 130, now 150 I believe, is a balancing thing. Realistically Tigers, Panthers, etc, should be taking out 90% of the AFVs in the game at 1 km-2 km. That doesn't mean you have to get rid of small maps, urban tank battles happened, and the majority of tank engagements on the west front occurred at 500-750 meters anyway. The medium and large maps would just need to be enlarged a little bit. Then all you have to do is make 5 Shermans the same point cost for a Tiger and voila, you're done. More ammo types would also be a good idea, and to balance Fireflys, and 76(w)s just give them a smaller amount of AP and HVAP ammo respectively, a historical reality anyway. All British tanks pre Crusader should also not have any HE rounds too.
So yeah, 100% realism and balance can go hand in hand, but you just need to be willing to put a little more effort in.
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