I've never used psp, but the documentation page seems to indicate what happens with indentation. It looks like it would be parsed as:

<p>
if condition:
....<b>
action1
</b>
action2
</p>

I have no idea how to get either "proper" behaviour, and I'm not in a position to experiment, but I'm sure it's possible (that would be a fairly large omission).

Yes, but beginners want it, because it has the smallest overhead for trivial projects. Later, when they learn more, they can separate the logic and templates.

Yes, I agree that it is good for beginners; I was merely mentioning that point.