At the end of the day PowerPoint is nothing special, it's just that many people start preparing a topic/subject by making bullet lists. If you're lazy, your job is done: you copy 1to1 that list into a sequence of slides and call it a day.
If you're slightly less lazy, you might look for images/graphs/content from somewhere else to support your presentation.
Everything changes when you regard the slides as being 100% for the audience and not for you, the speaker. That's when you start thinking about the UX of that, putting yourself into the shoe of who's forced to sit through what you're trying to deliver.
But again, blaming the tool is easy and doesn't address the root cause: many people who give presentations, either don't want to give them (someone might have told them that they must) or they do it purely for themselves (or don't really care about the audience).
For design documents, strategy discussions and the like, it is very useful for both the author/presenter to be able to think through the entire thing and present it as a consistent, interconnected document that does not lend itself to a list of bullet points; bullet points typically imply that there is a cutoff between the individual concepts being addressed, whereas things often occupy some position in the latent space and it is helpful to be able for authors to find inconsistencies in their reasoning, discovering new ways of doing things, and for other reviewers to be able to validate the presented reasoning and data points and reach the same conclusion as a way of ensuring that the document is in fact, correct, and thus arrive at an agreement regarding the topic at hand.
There are many organizations which mostly see document writing as a way to satisfy the bureaucratic machine, and therefore reasoning often turns out to be not as important. These places love presentations; and in an ironic twist, the very blog we're discussing offers such a product that is mostly aimed at said bureaucracies.