All cartridge bearings are essentially sealed. You could pop the plate off the front if you wanted, but I doubt you'd reduce much drag that way. You're right though, it's not something worth worrying about. The pro peloton is full of cartridge-bearing wheels (granted, they're ceramic), and those guys get by just fine.

The stock Formula bearings definitely don't spin like a well-packed loose-ball hub, but I imagine that, like anything else, they get better as they break in and the bearings can be upgraded cheaply and with ease.