In the short term it can lead to a scoring possession. In the long run it will lead to four of their teammates watching them dance around with the ball until they take a contested low percentage shot. The goal in any successful offense is to take a majority of high percentage and uncontested shots.
When a player over-dribbles they also enable the defense to stand still and stay in good position to make a stop. Good offensive teams make penetrating drives to force defenders to stop penetration and stretch them out. You need to move defenders form penetrating dribbles or by passing the ball.
Most of the efficient offensive players can make their move in two dribbles or less. If you watch Kevin Durant, Kobe Bryant, or James Harden for example most of their offense comes from spot ups or 1-2 dribble drives. They may find themselves in situations where they over dribble, but their game is a steady diet of high percentage shots in 2 dribbles or less.
For a point guard obviously you will dribble a lot more than twice to get your team into their offense or initiate pick and roll. The two dribble or less rule comes into effect when you initiate your scoring move. Try to cover the most ground that you can with your dribbles and try to not stand still with the ball in your hand. The less time you spend with the ball in your hand the harder you are to guard.
For a wing player try to have a majority of your shots be spot up jumpers or shots off of cuts. Your drives to the rim should be aggressive and be done mostly in 1 dribble. From the perimeter either off of a fake or jab you should be able to get your shot off on a drive in 1 and 2 dribbles.
For a post player having a hook or jumpshot with no dribble in the post (low/mid) is very important to start with. You can also add a 1-2 dribble backdown hook in the lane for the next part of the move.