Bonding aside, it's a non-negotiable scientific fact that breastmilk is much healthier for babies than formula.
No it isn't.

At the end of the day, individual genetic makeup is responsible for WAY more aspects of a person's health than what they ate for the first 12 months of their life.
I can tell you for an "absolute fact" in my household, my formula fed son has been far healthier overall than his breast fed brother. Oldest is almost 18, is smarter, slimmer/stronger and literally has never needed to take antibiotics in his entire life. He gets sick maybe once a year with a cold, that's it. My breast fed son was sicker more often, is borderline overweight at age 16, and has some intellectual deficits.
Genetics plays a far larger role than whether babies drank breastmilk or chemically identical formula.
Almost all moms at least TRY to breastfeed or they pump at least initially. The colostrum and initial breastfeeding is all a baby needs to establish a healthy gut flora and receive an immunity boost. After that, it literally doesn't make a difference.