Think tonal separation. The steeper the curve, the more tonal separation.
Now think: the human eye has great tonal separation for highlights or in bright light, but lousy tonal separation for shadows and in dim light.
Now, take a long-toe film, make a print (where the shadows will be compressed in tonal separation) and display it in low light.... You get the idea.
That said, there are a ton of subjects that don't need great shadow detail and a lot of us who love shadow detail that use TXP (me included). So it's not all that cut and dried. I solve the TXP toe problem by simply overexposing the film to get more of the shadows up onto the straighter portion of the curve.
Many portrait photographers love films with long toes because they suppress the unwanted detail in the shadows but, as a reward, give more pleasing separation in the mid-tones, where most of the interest in the photo lies.
Keep in mind, that there is a rather "fixed" range of tones between maximum black and maximum white. It is the distribution of those tones that can make a photo sing, or flop. I love shadow detail, but I also love lots of mid-tone separation and delicate whites. For me, TXP works fine with a rather high placement of the shadows.
It all depends what you want.
Best,
Doremus Scudder
www.DoremusScudder.com