I am about to face an opponent (red) with this formation:

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I tried recreating the formation with my own squad and I got a warning saying that having only two defenders is not a good idea. The same team played previously, using a 2N-2W-3N-3W formation, and lost 6-0 to a 4-3-3 flat formation; prior to that loss it has won twice.

My question does not pertain to counter formation and tactics. Rather, I am interested in the logic behind this formation and the chances that this formation could win a match.