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To defend 't Hooft I would say that physics is not only about predictive formalism, but also about ideas that justify that formalism. Indeed, the 't Hooft lectures on QFT (as pretty much any other QFT textbook) starts with some heuristic ideas and ends up with some predictive formalism.A. Neumaier said:But physics is about predictive formalisms, not about profound truths. The latter are reserved for the informal interpretation of the formalism.