It's a question of ethics. Women who use formula milk, for whatever reason, should be able to select the brand and formulation based on good information - their babies' health depends on getting this right.
Instead they get marketing, 'free' fluffy toys and other bits of tat, sky-high prices, with each brand trying to tell you they are the 'best' or 'better' or 'better than ever' or 'new and improved' or 'now with [insert technical sounding ingredient]'. With infant formula, the brands are pretty identical nutritionally in terms of quality, though the exact ingredients may vary - they have to be like that, otherwise they don't meet international and national regulations. Speciality formulas, follow ons and toddler milks are not subject to same regs, and may well differ....though you would find it hard to know, because full information is not easily accessible to the public - they'd rather you went with fluff and marketing, because that is, apparently, what sells product.
That's what's insulting to parents - that unless they hunt very hard, that's all they can get. Do you think Brand X causes more wind or colic or constipation or reflux than Brand Y? Is there published research on this to help you work out if changing the formula you use is worth doing? No - you have to experiment.
I know that MNetters are a special breed and they, uniquely among the human race, are impervious to marketing, but the rest of the world is not. I'd ask this though: those of you who use formula, how did you choose which brand to pick? Marketing will have played some small role in that - even if it was the marketing that worked on your mother :) (like soap powders, consumers are strongly drawn to the brand they remember from childhood).
Ethical marketing would be making all formula widely available at a consistently low price, with minimal branding and no advertising. Information about preparation and storage, and different ingredients, would be easily and clearly available.
The same goes for bottles and teats.
None of this stuff needs to be advertised to tell people bottle/formula feeding is an option for them - I think everyone knows that babies can use bottles, without seeing advertisements. A lack of advertising does not imply judgement on the people who use the product - I have never seen an ad for a coat hanger, or a pencil, or a washing up bowl but I use all these products daily without feeling people are judging me :)