Programming is not in text. Yes, formulas have textual representations but can be graphically defined if you are not an advanced user (e.g. click to select parameters including ranges). Also, other than formulas, there are e.g. iteration semantics in copying a formula down, applying it to a column on a table etc. There is even limited recursion. The model breaks down in some areas, e.g. using silver is not as well integrated.

Yeah in theory you can, but it's almost write-only. You can't easily edit the formulas that way. Even complete beginners I've observed preferred the writing to dealing with the other dropdown input.