Getting the value of serious project management embedded in my mind took 4 years beginning with my first game project in year 8, and let me tell you it really is equally as important as your raw programming capacity when it comes to creating something that works, elegantly, on-time and to-specification.
I really hated Computing unit 1 AOS 1 as well, not because of the PSM but because the process of surveying randos at my school, finding a truly free infographic website, and fighting it to do what I wanted really isn't the highlight of the high school experience.
However, that sort of knowledge (regardless of which 3/4 you take) exists in the realm of supplementary skills which are really useful, and you'll probably still have to make use of at some point. This includes stuff like project management, various kinds of charts, data collection/tabulation, design, etc. Especially if you have aspirations as a freelancer, or a business owner, skills like these are essential to be productive and flexible as well as allowing you to market yourself effectively, which without going on a tangent is what I believe (as someone admittedly still in high school) is the single best skill you can master in the internet age.
Fundamentally though, every VCE subject is littered top to bottom with information that doesn't feel (or simply isn't) useful in the pragmatic sense. They paint in broad strokes by necessity: not every student is at the same level of passion or talent or capacity to learn, and VCE has the responsibility of exposing you to areas of interest moreso than developing your applied skills in a specific area (that's what uni is for) which means the occasional AOS will be a dud for you so that it can be an awakening for someone else.
You'll probably find software development to be far less aggravating because while the PSM will be a returning topic you're actually only learning it again so that you can apply it immediately after, and everything is very code-centric until the very last area of study which is a sort of industry/macro focused topic.