It's actually a pretty old way for Black to meet the Ruy Lopez. I'd say it's not very popular because it makes it hard for Black to develop his dark-squared Bishop and constricts the position. It is playable, though.
why no cozio
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In principle i like it, and it's for certain something you could play without many fears. However i think the consensus is that with precise play W has a persistent edge (if i remember correctly the most precise move is 4.c3), and more in general B sometimes has to play very immaginatively to hold the balance. It's not such an easy defence to play.
Correction: 4.Nc3 is supposed to be the critical move.
-4...g6 5.d4 exd4 6.Nd5! supposedly starts a very strong attack.B has to find the one and only precise path wich leads to a slightly worse position in a sea of forced losses. Not unplayable but not pleasant either.
-4...Ng6 has been played quite a lot by a played named Arkhipov, but 5.h4(!) is considered very dangerous. Maybe you can look at his games.
I don't think the cozio is such an easy and theory free defense to adopt, but several GM have tryed it in the past and there is still room fore improvements i guess.
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why is the cozio never seen? at most levels its impossible (with correct play as black) for white to get anything more than a small edge. i like
it because its rich and new