The workflow as described (no verification step) is theater. But that's true for any credential exchange without identity verification, PGP or otherwise. The issue isn't PGP, it's skipping the verification step. PGP provides the tools (fingerprint verification, web of trust, key signing), but you have to actually use them.
The scenario is theater (if you have an out of band lookup for verification, just use that. Don’t bother asking for pub keys).
Also in parallel PGP is trash.
Without this, you'd need out-of-band verification for every single credential exchange, which doesn't scale.
As for "PGP is trash"... That's a different argument entirely, and you've provided zero technical justification for it. If you have specific criticisms of PGP's cryptographic primitives, key management model, or implementation security, make them.