Obviously I'm not suggesting that assembler is the best teaching language. I could also take your logic and use it to conclude that C++ is the best programming language to learn first because with C++ you can learn about the implications of heap corruption when improperly handling exceptions in constructors. C++ allows functional, procedural and OO and many more programming styles. It supports manual and automatic memory management. It can be used to teach high level and low level programming constructs. But I think we're all in agreement that C++ is not a good first language to learn despite (or because of) its versatility.

I think Python is a very accessible programming language that still has enough depth to go into a lot of interesting CS subjects. That Python doesn't have manual memory management or support for true multiple inheritance means that you can't teach those things effectively with Python, and I'm completely OK with that trade-off.