-Rob-
Player Valuation: £15m
Formations are totally relevant. I think what you actually mean is that formations are flexible.Formations are generally irrelevant, the best 11 players with the greater ability and motivation win games.
Formations can, in one off matches and for specific reasons, can sometimes be effective but generally the best players over come them.
An overall strategy of 442 can become a 451 with the movement of one player. A back 3 can become a back 5 if the wing backs drop back a bit. The various formations are endless but all revolve around 11 men on a pitch. Obviously you're right that the team with the better players will win more often but better players can also play in better formations because they understand the game better, moving off the ball as well as on it.