Except until a couple of sites leak their plaintext passwords, and the attacker can start piecing information together. Bob@foomail.com's PW on Yahoo.com was ZuBrDfPgPg, and on Patreon.com SkBrOxPdGqPgLu. Any chance his PW for Therapy.com might be OxDfGqPdBrSkZu?
Such attack is more attractive and more effective the more people use this specific method.