EU4 should be balanced for single player.
In cases where MP balancing significantly differs from SP balancing, changed values should be an option in the game setup.
If you need to balance differently between SP and MP, you are making an AI that doesn't try to win, however a particular game defines winning.
I disagree with that design choice even at the theoretical level. If the AI is stepping into the shoes that are occupied by human players otherwise, it should be at least attempting the same objectives, albeit likely less effectively due to developer/programming resource limitations. Making an AI that game throws and then "balancing" around that seems to me a like a recipe for undue extra development work and asking for mechanical imbalance just to offset the design imbalance (opponents that don't try).
I've seen people try to claim that an AI that tries was a failed experiment in Civ 5, but that AI certainly did *not* try to win. It's actually pretty rare to see it in modern strategy titles.
What's most perplexing is that straight up weird balance choices often get blamed on "MP-focused balancing" even though there's no credible rationale for that and some counter-evidence...especially apparent in moves like "buff trade companies", "buff survivability of large nations", or "nerf the weakest positions on the board without coherent basis or any internal consistency", all examples straight from EU 4's checkered patch history. I'd argue that had there *actually* been a MP emphasis on patch changes with some coherent framework, these changes would not have happened as they did and EU would be better off right now.