1 - running multiple split queries leaves you useless consurrency - by the time you got something from table 1, it could have been deleted and it could still be in table 2 - now suppose 5 correlated tables.
2 - query execution with at least moderately complex logic over fields that are not a mythical identifier
3 - control of the amount of extracted data (you are unlikely to need more than 50% of the data needed to deserialize / create valid objects and even the worst whole trees of related objects)
4 - correlated queries (nested selects) that the SQL server will optimize as joins for additive complexity or better (| T1 | + | T2 | + | T3 | + | T4 |), while any ORM or nonSQL will have to be repeated internal queries and the occurrence of multiplicative complexity (| T1 || T2 || T3 | * | T4 |)
5 - data set sizes, scalability not only in data sizes, but also in concurrency processing under updates. Even ORMs that support transactions make them so long that the chances of deadlocks increase exponentially.
6 - blind updates (much more data touched for no reason) and their dependence and failure based on a blind tool (a mythical version that is really necessary, for example, in 1% of the relational data model, but ORM and alikes should have it everywhere)
7 - the absence of any standards and compatibility - this means that your system and data will always be at significantly higher risk and depend on software changes due to academic adventurism, and not any real business responsibility and expect to invest a lot of resources just when testing changes.
8 - data integrity - if some code just deleted half of today's order records from T1, because there was no T2 foreign key to stop it. A pre-normal thing related to individual requests.
9 - negative trend of maturity - continues to split instead of standardization - give it 20 years and maybe it will stabilize
Last but not least, it does not reduce any complexity (the same correlation between the data still exists), but it is very difficult to track and manage the complexity or have any realistic means or transparency when something goes wrong . And this adds complexity to 1-2 layers. If something goes wrong in your SQL tables, you have tools and queries to discover and even correct your data. What are you going to do when some ORM just tells you that it has an "invalid pointer" and an exception is thrown, since you don't want an "invalid object"?
I think enough :-)