It's the best compromise of spacing for clarity and readability on most modern screens
Even your editor doesn't have tabs, or say you're stuck using a simple notepad application then it's also pretty easy to maintain 4 spaces manually.
3 or 5 spaces are never acceptable. Generally, humans like things in 3s or 5s, our whole lives are based on groups of 10. But even numbers are superior.
Not worth talking about 1 space, that's a mistake that you're too lazy to fix.
Previously with the 80 character wrap limit, it would have been a waste, but nowadays most screens should much more than 80 characters and so this works. It's an even number, it's two times 4 spaces.