I feel PowerPoint + Microsoft had to legitimize presentation software as a standard business piece of software first though. Maybe Hypercard was too early in that regard then.
Hypercard was very much a presentation software. It had the best animations at the time, compared to Powerpoint. And it supported features that seem obvious once you hear about them: from any slide (card), you could click on an element of the slide, and it would take you to another slide about that element. Powerpoint is still mostly focused on linear "next slide" all the time.
In other words, with Powerpoint, you are presenting to a passive audience. With Hypercard, you were handing the control of the presentation to the attendee, and they could drive the presentation wherever they wanted.
It had some functionality in that direction, and you could easily bridge the missing features with HyperTalk scripts. I think the real limitations were the 1-bit graphics and the lack of widespread availability of projection video hardware before the early 90’s.
edit: I just remembered that I’ve seen people give presentations built with HyperCard. I recall one where the presenter pretended to be surprised by a system crash (== displaying a Macsbug screenshot in the middle of the presentation) but neglected to hide the HyperCard hand cursor.
There was a moment when the creators of the presentation and the presenters were able to become one - just like Excel took number fiddling from the dedicated wizards to any manager, so to did Powerpoint take slide decks from the slide wizards to the managers. It took a bit to catch on but once it did it was wildfire.
I feel PowerPoint + Microsoft had to legitimize presentation software as a standard business piece of software first though. Maybe Hypercard was too early in that regard then.