Pascal's compilation time is still unparalleled in its speed and that is one of its greatest features.
For industrial languages, programs will be compiled a few times while developing and debugging, and then run many, many more times in production.
For a teaching language, programs will be compiled more than a few times while learning and debugging, and then run never.
This situation has the corollary that teaching languages ought almost always to opt in favour of compilation speed over speed of compiled code.
(when I started programming, developers shared a minicomputer CPU, which meant that even with Unix, which prioritises editor threads over compiler threads, ends of quarters were brutal for load average and hence system responsiveness)
This is a false dichotomy. Pascal compiles fast and runs fast.
Then there's the fact that performance of a program depends on far more things than the language it's written in — and faster iteration cycles ease optimization and profiling on the level of algorithms, which is where you have most gains.
Squeezing that potential 3% speed up from using another language is rarely worth it then.
Computer scientists circa 1980 were driven absolutely crazy by BASIC becoming the dominant teaching language in primary schools; with alternatives like UCSD Pascal, however, you are better off writing assembly.
Everything else is blasphemy.
After that, Pascal = Delphi (for quite a while).
The fact that both are commercial, closed-source (and, in case of Delphi, quite pricey) packages is pretty much the sole reason Pascal lost out in popularity to languages that mere mortals could use at home without having to resort to piracy.
It took Embarcadero over a decade to realize that offering a free "Community Edition" of the IDE is a must to stay relevant. It was too late by then.
(Possibly Jetbrains is an exception, though my take is their attempts to introduce new languages like Katlin and radical frameworks like MPS haven’t been as impactful as getting the bugs and slowness out of Eclipse)