You cannot eliminate formality in society. It has to be given its place. But devoid of cordiality, formality can be hypocritical. Cordiality alone may cause chaos and may even appear sometimes to be uncaring.
Formality improves communication; cordiality improves communion - oneness. Communication is only necessary where there are two. Formality maintains duality.
Structures are based on formality. Love and knowledge are based on cordiality. For love and knowledge to blossom, you need an informal, cordial environment.
An organization cannot happen, orderliness cannot prevail, if the formalities are abandoned. All actions are measured steps of formality. Devotion is informal and totally chaotic.
Cordiality is the core of one's existence, formality is the outer shell. When the outer shell is thin, it can reflect the inner light. Like the dome of the lamp softens the light. But if the dome is too opaque, you cannot see the light. So, we need to strike a balance between cordial formality and formal cordiality.