It is difficult to explain everything in life. On one corner, there is Valve who has this mysterious phobia for doing a trilogy. Most of its titles are stuck at number 2 with number 3 being held for so long now. Perhaps the game developer failed to learn how to count? Take a look at Half Life 3 for example.
On the other corner there is Turtle Rock who is obsessed with the number 4. One key example is with the Left 4 Dead franchise. Both Turtle Rock and Evolve felt that 4 players are just nice and any more or less of them will ruin the game.
Even after selling the Left 4 Dead franchise to Valve, the company faced a tough time in giving L4D more players than it have. Evolve’s creative director, Chris Ashton revealed that it might be weird but tracking 3 other friends is just nice as additional figures will only spoil the game.
It is not just with Left 4 Dead that Evolve is guilty for giving a 4 player set up; most of Evolves games are 4 players maxed.
While me might not have thought about all these things, there appears to be a valid reason to why Left 4 Dead is capped at 4. It is not because of some theories or algorithms; it is simple because players feel right.