But to answer the OP, yes there are risks involved in formula feeding. As I said before, there are times when the risk of continuing to breastfeed (such as when the mother has a condition meaning she is not producing sufficient milk or on immunosuppressant drugs) would put the baby are greater risk. And people make all sorts of calculations about risks and benefits in their lives. I drink too much wine and don't exercise enough, for example. I sometimes (often!) cannot face trying to force my kids to eat apples instead of biscuits, but I won't give them Angel Delight.
Anyway, re formula, these are some of the risks.
Formula feeding accounts for up to 26% of insulin dependent diabetes mellitus in children.
Otitis media (middle ear infection) is up to 3-4 times as prevalent in formula-fed infants.
US Formula fed infants have a 10 fold risk of being hospitalized for any bacterial infection.
Heart, circulatory and respiratory failure Scientists worldwide have documented higher blood pressure among formula-fed infants, as well as more apnea and episodes of oxygen desaturation, inferior body temperature regulation, less growth and longer hospital stays.
Necrotizing enterocolitis Researchers in the United Kingdom have confirmed that formula-fed infants develop necrotizing enterocolitis six to 10 times more often than breastfed babies.
Diarrhea A summary article for industrialized nations demonstrated an average of triple the risk of diarrhea for formula-fed babies. The risk in China and Israel is reported as slightly less than triple; in Scotland, the risk is five-fold; and a doubled risk is measured in Canada.
Respiratory illnesses It is clear that respiratory infections are at least triple in the United States for formula-fed infants. The death rate is likely to be even higher, since some of these studies note that both the severity and extent of respiratory illnesses are considerably higher once they occur.
Cancer A joint study between the United States and Canada on neuroblastoma, a common childhood cancer, revealed a doubled risk for children who did not receive breast milk for more than one year. This study is consistent with several other childhood cancer studies in other nations.
Low birth-weight and pre-term birth A U.S. study performed at George Washington University Hospital found 2.5 times the number of infections among formula-fed infants in the intensive care unit than among those receiving human milk. Another study at Georgetown University Medical Center also found more than double the number of infections in very low birth-weight infants not receiving human milk. A San Diego study found twice as many infections in pre-term, formula-fed infants compared with infants who received human milk.