First, our brains plan things out in sequential, blocking, single-threaded semantic ways, but callbacks express asynchronous flow in a rather nonlinear, nonsequential way, which makes reasoning properly about such code much harder. Bad to reason about code is bad code that leads to bad bugs.
Second, and more importantly, callbacks suffer from inversion of control in that they implicitly give control over to another party (often a third-party utility not in your control!) to invoke the continuation of your program. This control transfer leads us to a troubling list of trust issues, such as whether the callback is called more times than we expect.
We need a generalized solution to all of the trust issues, one that can be reused for as many callbacks as we create without all the extra boilerplate overhead.