It is syntax sugar for CPS [1].
[1]: https://en.wikipedia.org/wiki/Continuation-passing_style
EDIT: I believe prior art is Koka's with statement: https://koka-lang.github.io/koka/doc/book.html#sec-with
[1]: https://en.wikipedia.org/wiki/Continuation-passing_style
EDIT: I believe prior art is Koka's with statement: https://koka-lang.github.io/koka/doc/book.html#sec-with
One level of callback nesting in a function is totally fine, two is a bit confusing, but if you have many async things going on do you really want 10, 15, 20 levels of nesting? What to do about loops?
I certainly greatly prefer async programming with async/await languages that keep the appearance of linear function execution to stacking my callbacks and having a ton of nesting everywhere