Because some of us don't want to buy infant formula that's full of lead, bacteria, cellulose, or whatever other garbage would end up in it?

Why not just go back before the FDA existed, in other words? Because it's generally frowned up when people mix things like plaster of paris, "bluish, white compound of true milk, pus and dirty water" and sell it as milk.

https://en.wikipedia.org/wiki/Swill_milk_scandal

This stuff happens even with the FDA.

https://en.m.wikipedia.org/wiki/Rofecoxib

https://en.m.wikipedia.org/wiki/Purdue_Pharma

I don't think anyone is making the claim that regulation is foolproof. But the idea that no regulation is inherently better seems specious.

Risk isnt free, it's mitigated by insurance costs, and when the negatives happen, from the government stepping in as the last resort.

You don't save money by sending infants to the emergency room because they are bad formula

"Personally, I love having moved to a country where no one relies on the govt for anything."

So it can be like supply of cocaine, laced with horse manure and rat poison?

I can assure you the cocaine here has far fewer impurities here than your FDA regulated / CIA sponsored coke in America.