I'm not advocating it, per se. Actually powdered specifically might not be necessary at all. But for babies who can't consume breastmilk in its default form (who are now given specialist formulas), breastmilk could be modified to make it suitable for them (e.g. low PKU). Which would require far less processing than cow's milk does now, to be turned into formula!
You can call it a formula if you like, but it's not the same as following a recipe to put X, Y, and Z ingredients together to make something new, which is what the word formula means. It's just modifying something that is already almost suitable.
Anyway, that would rarely be needed, as almost all babies can consume breastmilk in its standard form (obviously!).
And the vast majority of mothers could breastfeed directly in a non-sexist society, which truly understood and supported our physiology at all stages of life.
When they couldn't (which would be rarer than it is now), there would be easy alternatives that don't involve formula (including options we have always had access to, e.g. someone else nursing the child).
The entire point is, nothing related to infant feeding should be "marketable". So no, they have no interest in centering women and children's needs over making profit.
They want breastfeeding to "fail", and for women to hate each other if they suggest it doesn't have to be like that. Because that reinforces the "need" for their product.