Stats are accurate. They cannot reflect something else, they reflect what they are. It's the sum of those stats that is different per faction. The stats absolutely reflect performance, there is no mistake about it. However, it is the same thing with Gondor Knights. In the tournament circles, Gondor Knights are deemed OP and the LPS fix nerfed them a bit, so with identical stats the Ram Riders are OP too and would probably be nerfed as well. Still, I don't think Ram Riders are really the issue, perhaps Narin is indeed too strong with his leadership. Any supposed deviation is either incorrect implementation of stats, like typos and other multiplying bugs, or interpretation, but these are all human errors. Stats never lie. Once you start coding yourself, everything becomes quite clear, I always say ^^.
I for one, would like to see their stats reflect more of a line-breaker unit rather than the heavy Gondor Knight stats approach that they currently have. Gondor Knights are very tanky and should sacrifice some DPS for it, imo.