Not really but I guess that's dependent on company culture. You work at a stack rank place?

Where I work Power Point is mainly used to make presentations that are easy to read on a projector screen (as it should be used).

On many places it seems to be used as a general document writer application ... so what we emotionaly associate with Power Point might differ alot.

Actually I think this memory of mine comes mostly from Academia about a decade ago! Not really in the workplace.

I've seen it a couple different ways. When a supervisor asks a subordinate to produce a powerpoint that the supervisor will edit/present to higher-ups, it generally looks as you describe. When a team leader produces a set of slides for their team, it's not so transparently theatric.