You are correct. Discussions of this topic tend to be full of unvalidated but confidently stated assertions, like "Python 3 internally uses UTF-32." Also unjustified assertions, like the OP's claim that len(" ") == 5 is "rather useless" and that "Python 3’s approach is unambiguously the worst one". Unlike in many other languages, the code points in Python's strings are always directly O(1) indexable--which can be useful--and the subject string has 5 indexable code points. That may not be the semantics that someone is looking for in a particular application, but it certainly isn't useless. And given the Python implementation of strings, the only other number that would be useful would be the number of grapheme clusters, which in this case is 1, and that count can be obtained via the grapheme or regex modules.

It conceptually uses arrays of code points, which need up to 24 bits. Optimizing the storage to use smaller integers when possible is an implementation detail.