Fine it has some cognitive benefits, but in terms of physical health it's absurdly net negative. Long term smokers have a huge likelihood of dying from a smoking-related illness. That's what people mean when they say it's bad... they're not internally comparing it to caffeine.

Sparkling water has a significantly lower ph than still water.

> Formula is trying to replace something that evolution has come up with...

Sure but the vast majority of what people use and consume is a replacement for what "evolution has come up with". That doesn't inherently make it "bad".