Based on the money behind I think you're right. I made a mistake quick-calculating that and thought it was going to be 140 into a pot of 200, not 120 into a pot of 240. Obviously if you flat that flop raise, the villain won't think he has much fold equity, which reduces how much you'll make off his bluffs with worse hands. Also because it's a smaller shove you will get called more by some hands you have beat, so that's not a bad thing.

However, if a magic fairy put another hundred bucks in your stack mid-hand here, I think my argument stands.