It seems like it's a quaternary search which seems like an arbitrary "magic number" of interior points. It's easy to understand what it does if you already know other variants like ternary search (cut search space into 3 to pick 2 interior points) or golden section search (same thing as ternary except in golden ratio). Here, quaternary search is just picking 3 interior points after dividing into 4 parts.
So the speed up is the same as how b-trees get their speedup: increase branching factor which costs more comparisons but reduces the depth. I might be wrong, but instead of quaternary it could also be 5-ary or 8-ary or any B-ary and any of these variants can also have the potential to perform better.
Just a tradeoff between: cost_of_divide * log_B(N) + cost_of_compare * (B - 1) * log_B(N)
EDIT: Thinking about it more, the divison doesn't seem like it should be the most expensive operation (especially relative to compares/branching). Anyone have any better ideas on why you would prefer more compares? Is it some pipelining thing?