Classically, formal schemes were invented to study completions of schemes along closed subschemes. Eventually, people started using them for more arithmetical reasons. (I.e., to study non-archimedean geometry.) Now, in modern non-archimedean geometry, a lot of progress has been made in the framework of adic spaces. This leads to the question:
Can we see the completion of a scheme along a closed subscheme as an adic space? If so, what are the (dis)advantages of doing so?
(To be precise: this question is not about the advantages or disadvantages of doing non-archimedean geometry using formal schemes or adic spaces. Rather, it's about using adic spaces to understand "classical" "geometric" questions.)