Replacing text issue

It’s completely possible that I’m just burned out and can’t think clearly enough to figure this out like I normally would, but this is driving me insane.

I’ve set up a scenario that grabs a pre-written email body from a database, and I need to replace specific fields within that email body with data from other modules in the automation.

Currently, the email body includes placeholder information like [First Name] in the templates, so I’ve created a Set Variable module that I’d think would be able to handle doing this. No dice.

I’ve got other fields that I’ll nest in this formula once I get it working, but I can’t for the life of me figure out what I’m doing wrong. Anyone have any words of wisdom?