Good presentations are valuable. They convey important information. Bad presentations are a waste of time.
Powerpoint makes it easy to produce bad presentations, but it allows you to produce good ones.
Bullet points are useless if they contain no information "Improve product market share!". "Reduce failures".
Bullet points are valuable if they remind the audience of specific points: "Balance IP3 and Noise at each stage of the RF chain". "Using too high a gain in the first stage of a RF receiver is the most common mistake".
Used incorrectly, fancy graphics can be useless or distracting.
Used correctly, fancy graphics can illustrate a complex process such as the operation of a transverse deflection cavity for femtosecond timing measurements .