Shubhangi_Kene You speak about formatting as something necessary. Did you know that in writing, using CAPPED TEXT LIKE THIS ONE is already a HUGE mistake? If a novel does something like that, it proves the author doesn't know what they are doing. Its the same when it comes to using ! marks. If you don't use them sparingly, they lose their meaning.
If a novel is good, it won't need such features. There is more than enough basic formatting ("x" 'x' /x/ \x\ |x|) that you can use to present different forms of text. And if your novel needs formatting to be readable, then its not good in the first place.
Also, about contracts: its true that getting one DOES NOT mean its a good novel. I can sign this with both my hands, bot my legs ( and something else if I tried really hard). But the reversed version is actually true. If your novel CAN"T get contract, its either infringing on the WN baseline (smut in first 10 chapters, incest, underage sex) or is flat out bad.