It's a worthless constraint. There is nothing you can do with tone rows - retrogrades, inversions, permutations, all of it - that you can't do in free atonality.
There's an argument that serialism forces composers to use those operations instead of falling back towards conventional theory. But in fact the opposite happened. It didn't take long for serial composers to start mining serialism for tonal elements.
As for popularity - you can find abstract expressionist paintings for sale on Etsy. You won't find much hard serial music on Bandcamp. And it's pretty easy to generate it with software now.
But most of all Schoenberg was trying too hard to be remembered. Bach, Mozart, Debussy and his predecessors saw themselves as jobbing composers. They knew they had to keep at least one ear moored in audience expectations.
Schoenberg desperately wanted to be remembered as a great innovator. He didn't care if audiences loved or hated the music, as long as his name was out there was an Important Composer.