Unformulated does not refer to text formatting. For most fields that store simple text values (all of the basic fields) there is no difference between formatted and formatted. Unformatted in the ACF sense means that the value is returned exactly as it is stored in the database. For example, shortcodes and other filters will not be run on a WYSIWYG field, or a relationship field will return an array of post IDs instead of returning post objects. With a text field, the value you see is what is stored in the DB.