IMO, a bond is an intangible that can be vital in some dogs, not so vital in others, but that will never hurt a dog.
Just like calling a weight right, depending on how talented your dog is (and how talented his opponent is), pegging the exact weight right may prove to be vital ... not so vital ... or make no difference whatsoever. But it will never hurt your dog to get his weight exactly right ... and yet not doing so can ruin him. This is why both of these are "intangibles" to my way of thinking, because their effect can vary, but making sure these elements are in place is always good for a dog a never bad.
If a pit dog is a fighting dog, and as such it has a collection of traits, then (aside from speed, timing, reflexes, coordination, natural wind, stamina, mouth, etc.) there is the key trait of DESIRE in a combat dog that fuels the rest of everything. Certainly, we all want that desire to come from the dog's genetics, no question about it, but we cannot ignore the fact that part of what makes a dog "a dog" is LOYALTY ... and that loyalty is where trying to maximize the bond comes into play. A dog may be "naturally" loyal, sure, but that loyalty can be increased (or decreased), based on the amount of time/love an owner spends with his dog ... just the same as any other natural trait can be increased/decreased through dedicated effort (or lack thereof).
This subject is huge, and open to a wide variety of interpretation and thought, but I for one think that the effort to form a bond is the "cherry on top" that distinguishes great from good dogmen. A dogman maybe "technically proficient," but (while he may have a lot of solid dogs) if he's not bonding with his dogs, I believe a truly great dog will forever be elusive to him ...
Jack