>

Only theoretically or on the assumption that you understand what the "correct" measurement is... 
If you think the 1/4cup is full when you scoop it full & there's a little mound on top (say 10% extra or something) but 1/4cup is full when it's level at the top, then 4x 1/4cup with that extra will be worse than 1x 1cup with a little extra (for most sets, you can't get 4x more in the mound from a 1cup b/c it's not proportionally larger than 1/4cup in every dimension... Usually it's significantly deeper & only a little larger diameter, so only a slightly taller mound)
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So you’re saying all I need is a single 1/12th measuring cup. >

A four teaspoon. >

Oh man I'll save so much space in my kitchen if I just use teaspoons! >

Next step, add 8 cups of water >

Thanks satan >

16 cups for you ;) >

Yes, but your chances of mis-measurement grow significantly.
With 2 cups to measure, with a 2 cup measuring cup, you can only screw up that last 1/4 of a cup by a small amount whereas taking 8 1/4 cups, you have 8 chances now to be slightly off and being off in baking with your measurements usually means the recipe is screwed.  Baking is not that forgiving. >

doesn't variance get reduced when making multiple measurements? If one cup is actually 1+- 0.1 cups, then those +'s and -'s cancel out over 8 cups. I think the deviation even gets squared if you get enough cups, but i can't remember how many.