inducedHomology(fundamentalGroup(OnePointCompactification(Projectivization(RealAffineSpace(dimensions=2)))))
as just one object in a formula involving many such objects (like a long exact sequence which can contain 10 or more, each with a set of functions mapping between them!). You would get lost.
Then you say "okay, we'll come up with some nice alias for Projectivization(RealAffineSpace(dimensions=2)) and just call it RP(2)". Then it's still too long so you shorten inducedHomology to a prefix "" (not unheard of for programmers, cf pointers). Then you are left with "fundamentalGroup(OnePointCompactification(RP(2))", it's still long, and you realize that you just reinvented the standard math notation, which is like H^*(pi_1(RP^2)) with a line over RP^2, and you realize that while the shortened syntax is parseable by an interpreter, it's not actually any clearer.
You don't start to see the limitations of "let's just use python pseudocode for everything" until you actually try to use it for everything. When you realize that most math isn't done with a text editor (how would you do, say, geometry or topology?), you realize that the vim/emacs tricks programmers use don't apply. This is especially true because there are far more math concepts that need distinguishing than ASCII allows for. Think about how much code is required to translate trivial business rules into code. Math is orders of magnitude more complicated. It's just not worth the time.
Mathematicians also have one benefit pseudocode would destroy: the ability to point to something and declare a new semantic meaning. This is the heart of what it means to be mathematical notation, and software does everything it can to resist that.