PowerPoint is a slideware operating system which forces the presenter to contort the content into its low-resolution format. This necessarily makes the content less understandable, unless the content happens to be photographs and your topic is something like art history. It's easy to say it's the fault of bad presenters, but other formats don't necessarily make your audience dumber; with PowerPoint it is the rule rather than the exception.
"The average number of numbers on a powerpoint slide is 12. This is slightly better than communist propaganda (Pravda 1982). For comparison, see the sports page." --me, poorly paraphrasing
Discussion of how slideware led to 2 space shuttle explosions: PowerPoint Does Rocket Science--and Better Techniques for Technical Reports http://www.edwardtufte.com/bboard/q-and-a-fetch-msg?msg_id=0...
Tufte's textbooklet on powerpoint (an excerpt from his book Beautiful Evidence): The Cognitive Style of PowerPoint: Pitching Out Corrupts Within http://www.edwardtufte.com/tufte/powerpoint