1) Puts a lot of strain on my lower back; making squats more taxing than they need to be.
2) Feels unnatural to me.
3) Puts my wrists in a bad position.
So all my squats are high-bar. I take a medium stance for the most part, and this allows me to squat with fairly even muscle involvement; at the same time, I can squat the same amount of weight as low bar without as much strain on my lower back. Win-win-win for me.
Form follows function.