I'd prefer something like 3^n. Would really make you try to avoid needless nesting.
If at each potential error point you best one level, you quickly find yourself deeply nested.
I find the pattern of exiting early and having the “happy path” running to the end of the scope to make it much easier to comprehend a function (I’m sure there’s a term for this coding style but I can’t find the name of it at the moment).
Agree with you that reducing nesting is not in and of itself beneficial.
Because it is, by definition, needless. If there is a good reason for doing so, it is no longer needless.