Mudkip can learn Hydro Pump if it didn't evolve into Marshtomp at a high level. Hydro Pump is good for the ever-so-common MixPert - a competetive Swampert using both physical and special moves. That, there, is a good example of why not to evolve a Pokemon early. Another reason is that pre-evolutions in general gain experience points much faster than their evolutionary forms (not all of them, but most). Therefore the majority of the pre-evolutionary Pokemon will level up much faster than their evolutions, causing less time to be used for training.