Power and point can only work within a cone of approach angles. If the student is too low, raising nose and adding power will only work until he/she becomes unsighted. Preferable to raise nose and add power, fly levelish until intercepting normal glide path, then resume stabilised approach. If the student is too high, then there is a limit to the amount of power that can be taken off = idle power. pointing the nose at the numbers will only increase speed in these cases.
For more experienced pilots who are within the cone of approach angles where power changes have a significant effect...then point and power is as good as any other means of adjusting descent profile. Rookies, given the opportunity are bound to get .too high or low on occassions... and power and point (P&P) will not help, in these cases. Plus, when in climb, cruise etc we are taught to raise the nose to reduce speed of climb...we are not taught to hold attitude and reduce power. Thus consistent with non P&P approach. Does not mean P&P is wrong or worse though...just more suited to better pilots who can get in the cone and stay there with small power and pitch changes.
In my own instruction, in the early stages of teaching the approach, I teach students to aim for the touchdown point (1000' in) ...not the threshold. Then if we hit windshear and undershoot we can continue with a stabilised approach by just lowering the nose a little to maintain airspeed as we transit the windshear zone. (NB does not apply if significant winshear or no height in hand - where power is also required ). We still land on the runway, but a little short of the ideal TD point. When the student has more experience they can use small (100rpm) changes in throttle setting to fine tune the distance they will travel before touching down. Small power inputs = small pitch changes. 100rpm early has a greater effect than 100 rpm late so I encourage setting a power on base and leaving it until the flare. Less fiddling, more stable approaches and the picture stays for longer. As they get better, then they can select an aiming point of their own and fine tune power as required,.