Why carbon not form covalent bond with by sharing all four electron with other carbon?

As usual in chemistry, we are explaining an experimental fact by using an explanatory model.

The reasoning, however, has to be based on a more sophisticated model than the Lewis
structures we usually use. I will present the three common models in turn, below, and you may
stop when you reach an explanation that's too complicated!
From a Lewis point of view, there is no reason why carbon can't form a quadruple bond:

This model satisfies the Octet Rule and leaves no electrons for further bonding. But it implies
that C2 is a perfectly stable molecule, like N2, and that just isn't the case. C2 is highly reactive
and can only be studied under high-vacuum conditions, when it can avoid meeting other
molecules for long enough to be detected.
If we go on to the ​valence-bond model​, in which bonds result from the overlap of atomic orbitals,
we see a better explanation: carbon cannot form a quadruple bond because it doesn't have
enough atomic orbitals pointing in the right directions. Furthermore, the s atomic orbitals ​must
be hybridized (as sp3, sp2 or sp hybrids) so that they may point in some direction.

Notice that sp hybridization leaves two p orbitals over, while sp2 hybridization leaves one p
orbital.
Transition metals are able to form quadruple bonds because they can involve d atomic orbitals
in bonding. A quadruple bond requires one s bond, two p bonds and a d bond (between two
unhybridized d orbitals).
Valence-bond theory predicts two possible bonding states for C2: a double bond with all
electrons paired, and a triple bond with two unpaired electrons. These are called​resonance
structures​, and ​both​ must be considered as partial representations of the real situation. The
Lewis representations are shown below. For the orbital overlap picture, ​compare that in carbon
monoxide​.

Finally, we can visit the ​molecular-orbital model​. Although this model is not required to explain
why carbon can't form quadruple bonds, it ​is​ required to explain why C2 actually forms only a
double bond (!!) ​and​ has a triplet ground spectroscopic state (3Pu), in which two of the electrons
are unpaired. Valence-bond theory predicts​either​ an all-electrons-paired double bond,​or​ a
two-unpaired-electrons triple bond, but not both!
To understand this, we need to recognize that
_1. In molecular-orbital theory, molecular orbitals are formed from the overlap of atomic orbitals
before they are occupied​.s orbitals are formed by the combination of two atomic s orbitals, or by
two p orbitals laid end-to-end; porbitals are formed by the combination of two atomic p orbitals
laid side-by-side.

2. Furthermore, each pair of atomic orbitals produces one bonding molecular orbital and one
antibonding molecular orbital; if bonding ​and​antibonding molecular orbitals are occupied, there
is no net bond.
3. Finally, while electrons normally pair up in molecular orbitals, it takes energy to make them
occupy the same orbital ("correlation energy") and sometimes it takes less energy to put them in
different orbitals than it does to put them in the same one.
ually, according to very recent work, carbon-carbon bond length is 1.12 Armstrong; ln literature,
bond length of single bond,double bond & tripple bond are respectively 1.54 - 1.57, 1.3 -1.31 &
1.18 -1.2 Armstrong. So, from the experimental results​, carbon—carbon bond has to be
quadruple bond…While , according to M.O.T.& diagram, bond order of C2 is 2 ; Again, another
problem is to form quadruple bond, the elements need to posses d-electrons/d-orbitals to
produce delta-bond. Now, to explain, the quadruple bond of C2, former MOT is collapsed; now,
we need a totally different theory that would able to explain that. Recently, Chemists think that
may be ,it is possible via some sort of bridging between two electrons , but it's not clear solely.
One thing I'm sure about that it can't be explained by banana bond as it requires 3c-2e bond,
but here we aren't talking about 3-centres. Now, the aspect of other sort of bridging then, I
wonder,is there any sort of diffusion/delocalization of charge cloud , I don't know!? But there are
examples of quintuplet bond (Cr…) & even six bonds man…can u believe !!! Oh yes, it is proved
found in case of W and Mo. Surely , now we require new hypertension & new models…

c2 molecule exist in space as gas, but under normal environment it cannot exist as 4 electron
bonding with another 4 electron (quadruple bond) is not stable due to large repulsion between
electron (same charge repel) and is very unstable.