Idea for Very Inexpensive, Air-Friendly Countertop – GreenBuildingAdvisor

I’m considering making 24′ of kitchen countertop out of birch plywood covered by Formica or something like a hard polyurethane or epoxy.  Finger-jointed boards might make a good backsplash.  HD sells a 3/4″ birch plywood made of nothing but wood and a soy-based glue that emits no indoor pollutants for around $62 in a 2′ x 8′ sheet, which is roughly 1/2 of what a particleboard laminate countertop, roughly 1/4 or 1/5 of what butcher block, and roughly 1/8 of what a thin solid countertop HD carries of the same size would cost.  Formica laminate is around $86 for a 4′ x 8′ sheet.  Polyurethane would be less per square foot, and some of the water-based polyurethanes have very low odor when applied and none once dried.   The edges of the plywood would need careful smoothing and sealing.   As long as it performs well and looks decent, I’ll be happy.

Are there drawbacks I’m missing?

Can Formica be cut and applied reliably well with the right tools, temperature, etc.? 

Is there a best liquid finish to use instead?