Earlier quoted context omitted.
If done well, formal verification of kernel level services and how these use runtime protection built in hardware can absolutely reduce the attack surface of application level code. The key is to move critical services that attackers would wish to exploit into a formally verified sandbox. That is the real power of systems like seL4, even though seL4 isn't itself really geared toward the sort of chipsets commonly used…
Can you describe this with an example of a realistic use of L4-enabled sandboxing for a single-function IoT device? (I've done some L4 work so you don't need to spend a lot of time explaining.) General purpose OSs like iOS? No question: L4 is a major win. But that's not what the discussion here is really about.
Consider, for instance, that it is possible to separate TCP/IP or wireless protocol stacks from authentication code so that, for instance, a packet fragmentation bug can't be exploited to influence authentication level decisions. This is classical defense in depth strategy, but enforced through both runtime and formal methods.