You should probably breastfeed whenever possible, but sometimes the mother doesn't produce enough milk or cannot feed them for some other reason, like not being home, and feeding the baby in the first place is more important.

By all means, I'm still just a random internet schmuck and this is just my opinion.

Said opinion is based on three facts:
1)Breast milk has several things above formula like being easier to digest for the baby and passing antibodies, for not mentioning that the act of breastfeeding is also way in which the baby bonds with the mother
2)With that said, there's nothing inherently wrong with formula. It's possible for the baby to not deal with it correctly (in which case switching brands should probably be enough), but in general, it fills the nutritive requirements of the baby pretty well.
3)There are pretty negative effects to not feeding timely the baby. Their immature digestive system can even suffer permanent damage if left without food for too long. The baby absolutely shouldn't wait a few hours until mom gets home if hungry.