Antonio Conte's men charged back in the second half after entering the break 1-0 down to Antoine Griezmann's penalty.
Alvaro Morata levelled the scores near the hour mark, before Michy Batshuayi swooped deep into injury time to seal a 2-1 Champions League triumph at the Wanda Metropolitana.
But, while Chelsea left it extremely late to take all three points, Gerrard insists that it was fair reward for a fine attacking display.
"I've not seen Barcelona or Real Madrid do that to Atletico..."— BT Sport Football (@btsportfootball) 27 de septiembre de 2017
Chelsea "tore them apart," says Steven Gerrard. pic.twitter.com/pXUymyvlKK
“To be fair to Chelsea, that’s the first time I’ve seen this Atletico Madrid defensive unit get torn apart," he explained on BT Sport .
“I’ve never seen a team, even Real Madrid and Barcelona, I’ve never seen those two sides, who are the best in the world, do that to an Atletico Madrid team.
“So it was some performance.”
Chelsea now boast a perfect six points out of six in Group A, going top of the pile with eight goals scored and just one conceded so far.