The fact that the pyramid makes it easy to see the sequence, i.e. follow the chain of causation, and easy to find the callbacks, argues that there is a place for it. Additionally, it makes it easy to transfer state through the chain, since each callback has access to the previous one's variables.
The other patterns, which probably all have appropriate uses, too, would seem to carry a greater risk of spaghetti -- i.e. control that jumps around unexpectedly and is hard to follow.