Here's my hunch. Formal specifiation is so inefficient that cynics suspect it of being a form of obstructionism, while pragmatic people realize that they can solve a problem themselves, quicker than they can specify their requirements.
In case you don't refer to the mathematical notion of formal, then we use formal language all the time. Every subject has its formal terms, contracts are all written in a formal way, specifications use formal language. Anything that really matters or is read by a large audience is written in formal language.