12L14 has much less elongation and % reduction than alloy steels like 1137 and 4150, or even regular low carbon steel.

This means the steel will not stretch or shrink down in area as much before it breaks.
I am just an engineer, not a metallurgist, but to me this means 12L14 is not as "tough", i.e. it doesn't stretch as much as other steels do before it gives way. Some might think of these characteristics as making the steel brittle, however.
The elongation and reduction numbers for 12L14 are similar to oil quenched 1095 that has been tempered to 400 degrees, or even 700 degrees.
I think to characterize it as "brittle" is giving it a bad rap. If we are to use these numbers to say that, then we have to say 1095 mainsprings tempered at 700 degrees are brittle as well.
You can also see that hardness, strength, and toughness do not add up to the same thing. 1020 has almost as good a yield strength as 12L14, but it is not as hard as 12L14. 1020 is not as strong as 12L14, but stretches more before it breaks. Hardness is only of value for determining other material properties when we know the alloy or grade of the steel.
Mike