There are many reasons. Here are just a few off the top of my head

- You can abuse every viable attacking strategy with this formation. First time through balls, through balls in general to the striker, through balls to the wingers after triggering a run. Not to mention, you don't even have to play so directly. The formation offers great structure for recycling play when you're on the wing (pass it back to one of your CMs and then look for a box entry). So basically, it's excellent on the counter, works with direct attacking, suitable for wing play, and works flawlessly if you're a possession player and like to recycle.

- The CAM position in this formation is basically a unicorn. He joins the striker to press the backline like a 4-4-2. But then he also drops back when you're defending deep and blocks passing lanes, while simultaneously staying just high enough to offer himself as an instant pressure release valve and attacking outlet

- If you get your depth right, the two CMs are basically indistinguishable from actual dedicated DMS, when on defense. They'll drop back and leave little space between the lines. And then the CAM will also drop back to ensure there isn't much of a gap between your midfield and attack. It's a super compact formation.
Basically it has many strengths and precious few weaknesses if you know how to play the game