While I think that it is correct that a professional programmer does not need pseudo code (as other high level languages are available), and that management should not encourage programmers to design in pseudo code. I do think that there is value in education.
Some exam bodies views
“Questions in the written examination that involve code will use this pseudo code for clarity and consistency. However, students may answer these
questions in any valid format.” — http://filestore.aqa.org.uk/subjects/AQA-GCSE-COMPSCI-W-TRB-PSEU.PDF
AQA have also stated that they have tested there pseudo code, by building a compiler. And that they compile and test all code that is used in questions.
“The following guide shows the format pseudocode will appear in the examined components. It is provided to enable teachers to provide learners with familiarity before the exam. Learners are
not expected to memorise the syntax of this pseudocode and when asked may provide answers in any style of pseudocode they choose providing its meaning could be reasonably inferred by a
competent programmer.” — http://www.ocr.org.uk/Images/260952-pseudocode-guide-teacher-guide.pdf
“Is there an agreed convention for writing pseudo code in this course?
There is no agreed convention, and appropriate pseudocode is rewarded with
marks.” — (Can't find link)
Therefore these exam boards do not insist that students write in pseudo code, an answer in python can receive the same marks. Pseudo code is just the exam boards way of having one language for all in questions, and of being lenient on syntax of answers. AQA's (and may be the others) pseudo code, as used in questions, is a real high level language, nothing pseudo about it.
A learning perspective.
Just as pseudo code was useful in the past, before compilable high-level languages existed. It is of equal value today when learning your first language. For a learner, they have no compilable high-level languages available, as this is what they are learning. Therefore it can be useful to be able to express themselves in pseudo code.
When I was learning to program, I would first write it in pseudo code, then convert it into comments, and then one line at a time translate it into the language that I was learning. This translation phase, involved a lot of looking stuff up in a book. I still sometimes, but infrequently, do this.
It is important though to note, there is no point in formally learning a pseudo code. This results in the boot-strap problem (we learn a to help us learn b, but first we have to learn a, but a is no easier to learn than b).
The pseudo code that the student uses will evolve, to become more and more like the language that they are learning, and will become less and less used.