What is MATLAB good for? Why is it so used by universities? When is it better than Python?
I know this question is old, and therefore may no longer be
watched, but I felt it was necessary to comment. As an
aerospace engineer at Georgia Tech, I can say, with no
qualms, that MATLAB is awesome. You can have it quickly
interface with your Excel spreadsheets to pull in data about
how high and fast rockets are flying, how the wind affects
those same rockets, and how different engines matter. Beyond
rocketry, similar concepts come into play for cars, trucks,
aircraft, spacecraft, and even athletics. You can pull in
large amounts of data, manipulate all of it, and make sure
your results are as they should be. In the event something is
off, you can add a line break where an error occurs to debug
your program without having to recompile every time you want
to run your program. Is it slower than some other programs?
Well, technically. I'm sure if you want to do the number
crunching it's great for on an NVIDIA graphics processor, it
would probably be faster, but it requires a lot more effort
with harder debugging.
As a general programming language, MATLAB is weak. It's not
meant to work against Python, Java, ActionScript, C/C++ or
any other general purpose language. It's meant for the
engineering and mathematics niche the name implies, and it
does so fantastically.
I've been recently asked to learn some MATLAB basics for a class.
What does make it so cool for researchers and people that works in university?
I saw it's cool to work with matrices and plotting things... (things that can be done easily in Python using some libraries).
Writing a function or parsing a file is just painful. I'm still at the start, what am I missing?
In the "real" world, what should I think to use it for? When should it can do better than Python? For better I mean: easy way to write something performing.

UPDATE 1: One of the things I'd like to know the most is "Am I missing something?" :D
UPDATE 2: Thank you for your answers. My question is not about buy or not to buy MATLAB. The university has the possibility to give me a copy of an old version of MATLAB (MATLAB 5 I guess) for free, without breaking the license. I'm interested in its capabilities and if it deserves a deeper study (I won't need anything more than basic MATLAB in oder to pass the exam :P ) it will really be better than Python for a specific kind of task in the real world.