I put bad in quotes because you're claiming something is absolutely bad, but all your points are about how it is relatively worse than breast milk (which is a pretty high bar).

Studies on the long-term health impacts of breast vs formula milk are difficult to take anything away from. They're often observational rather than interventional, and it's hard to separate the type of milk from the feeding method. For example, a baby may benefit from the "skin to skin" aspect of breast feeding, but you could replicate this with a niche formula feeding method.

I don't think we really know how much worse formula is for babies than breast milk. It's probably that there's an increased risk in early infections. But in developed countries with good maternity guidance, the actual absolute risks of infections and SIDS are very low with either breast or formula.