The 2-3-4 schedule became popular because it solves the most common nap scheduling problem: parents don't know how long their baby should be awake between naps. The formula gives a clean answer — 2 hours, then 3 hours, then 4 hours. Done.
And for a specific group of babies, it works beautifully. The escalating wake windows make physiological sense. Sleep pressure builds throughout the day, so each wake window should be longer than the last. A baby who wakes at 7 AM naps at 9 AM, then naps again at 12:30 PM (assuming the first nap ends around 9:30-10 AM), and goes to bed around 7 PM. Clean, predictable, easy to plan around.
The problem is that babies are not formulas. The 2-3-4 schedule assumes a specific wake time, specific nap lengths, and a specific tolerance for that final 4-hour stretch. When any of those assumptions are wrong — and they often are — the schedule stops working. A baby who can only handle 3 hours before bed will be overtired and fight bedtime. A baby who needs 2.5 hours before the first nap will be undertired and fight it too.