Arbitrary schedule and bad habits about wasting time on stupid problems aside, I'd agree that a standup for a well functioning, co-located dev team is largely going to be redundant.

The most value I've found in standups are when you have a cross functional team that can communicate status on different things to everyone all at once. BAs, QAs, devs, IM/PM, and product owners aren't all going to stay up to date with each other naturally on most teams.

Of course, if teams are working in very long iterations with out-of-cycle QA then each functional aspect of the team staying up to date with each other on a daily basis yields less value. Such a setup tends to bring about other problems in many scenarios though.

In the end it's all about context. To say a daily standup is a stupid practice without context (implying in any context) is a bit too broad of a statement IMHO.