Powerpoint is not useful for engineering presentations. The problem is that most engineers SUCK at presentations. Consequently, Powerpoint looks useful because it forces an absolute minimum of organization onto shitty presenters.

To me, having a flip chart and/or whiteboard (preferably with ruled squares) is a necessity for a useful engineering presentation. I can operate in Powerpoint, but it requires a lot more effort. If I have to use Powerpoint for an engineering presentation, I'm either A) being forced by somebody in management or B) plan to give the presentation multiple times. In case B), I can amortize the time I have to waste putting the presentation into "Powerpoint Normal Form" over several iterations.