Come on Mr Lappos, you're supposed to ID your Navaids (which transmit at about 5wpm) and if you know the code at that speed it saves a bit of frigging around with your Jepp.
I remember being a co-pilot in an S61 watching with amazement as the (Senior) Captain turned unflinchingly towards a North Sea NDB which was pointing nicely but with the wrong ID and which little event would have RUN US OUT OF FUEL. When we move to voice ID, then forget morse, in the meantime it can matter.
As a matter of interest I learned it when I was 10 or 11 and it stuck, at least at slow speeds.
PS In a survival situation at night you can even send intelligent messages like "Need Brandy and Dry ginger" rather than setting fire to things, prancing about and hoping someone gets the message!