The stock CP-10-Z makes near-total sense for the role it's fluffed for. It's not so slow most units will be held up by the CO. It can contribute to a long-range firing line and shoot back if caught in the open, but most of its weapons are for last-ditch defense, and the AC/20 can simply end a lot of potential speedy headhunters. It doesn't have a lot of armor because it's expected to have bodyguards and it's not expected to get in sustained engagements. Really for its ostensible design purpose the only thing I can fault is the overabundance of autocannon ammo, 3 tons is borderline but 4 is nuts, if it's in a fight that long things have gone hideously awry. Two more tons of armor instead of two tons of ammo would have almost bumped it up roughly into "acceptable for a 3025 assault" territory without encouraging reckless behavior by "hands-on" officers, I think, and even additional heat sinks arguably would have made more sense than 20 autocannon shots although I guess there's some value to being able to say "So that's an 11 to-hit? Yeah sure what the hey."
Of course, there is limited value to having a dedicated command 'Mech that can be expressed in record sheets and dice rolls, and there was virtually none at all for the majority of the game's existence that took place before the invention of official rules for quirks.