Yes, I think you have to look at cost-effectiveness. The Sherman, for example, is often looked down upon because tank for tank it was clearly inferior to the Panther. But technically, the Sherman was a pretty decent tank - for example, compared to the lauded T-34. And some writers have assessed it as more cost-effective than the Panther, if you factor in its lower cost of production.

As IllaDIN implies, I suspect our perception of WW2 tanks is rather influenced by the timing of development cycle in each country. Up until 1942, German tanks were not so superior in hardware. But no one noticed much, because they were used so effectively. What people focus on are the Tigers and Panthers rushed out to counter the T-34. In turn, by 1945 the Allied tanks were starting to benefit from the effort to counter the Tigers and Panthers. But it was pretty much all over by the time they (Pershing, Joseph Stalin series etc) came on in numbers.