While it's not as ubiquitous as it used to be, Matlab is still very heavily used within shops that do a lot of traditional engineering (ME, EE, Aero, etc.).
This surprises people who just write software, but consider:
- The documentation and support is superb. This alone can justify the cost for many orgs.
- Did I mention the support? MathWorks has teams of application support engineers to help you use the tool. The ability to pay to get someone on the phone can also justify the price.
- The toolkits tend to do what specific fields want, and they tend to have a decent api. In contrast, you might end up hacking together something out of scipy and 3-4 weirdly incompatible data science packages. That's fine for me, but your average ME/EE would rather just have a tool that does what they need.
- It also has SIMULINK, which can help engineers get from spec to simulation very quickly, and seems deeply embedded in certain areas (eg: it's pretty common for a job ad with control systems work to want SIMULINK experience).
Is Python gradually displacing it? Probably.
(Honestly, I wish it would happen faster. I've written one large program in Matlab, and I have absolutely no desire to write another.)