You'd be surprised how useful it is in the cockpit.
On the classic 737's we had to identify all the nav beacons/aids we were going to use. After all if you want to take an aircraft down to 50ft above the ground in fog you had better make sure you are using the right navigation aid. The only way to do this was by identifying through good old morse.
Now the 737NG and the Airbus can identify the aids but they don't always get it right so it's good to have the knowledge to back it up.