What is the proposed idea/solution?
Formatting options for string output in Formula fields
How does is solve the user problems?
Formula fields offer useful formatting options for numbers that cause them to display as if they were certain datatypes like currency, or a specific format of date.
Airtable essentially has two formatting options for text: "Single line text" and "Long text" (and long rich text but i'll ignore that for now)
Currently it appears that interface elements such a 'List' treat formulas outputting strings as a Single line text. Formulas might output relatively lengthy textual information such as executive summaries of technical issues. If I could specify that the format of this string is 'Long text,' the three lines worth of wrapping in an extra tall List element -- like we already have for dedicated Long text fields -- would be very useful.