Don't know how you jumped from "No bosses!" to "Level scaling". One thing that regular enemies can't deliver is the feeling of an personal one-on-one-fight, between two worthy opponents. A good boss has basically the same skills as you, but he is a cheating bastard (because real KI wouldn't be implemented in an video game, let's be honest) and you win trough skill. And when you have an reason to hate, it's more delicious and like some already have written, you get an personal connection with him, if the writing is good.
I didn't expect having to explain a 2-line post... but...
The point was made that people need to feel that they become more powerful. I said regular enemies work fine for that, especially if you go back an earlier area and then just rofl-stomp people.
Of course, some people, as also evident on this board, rather than like this go all "I need them level-scaled, I don't want to feel progression, boohoo" resulting in a severe case of 'Why do I ever bother-ism' which can harm RPG's a LOT.
Bosses don't do that either since it's 4-vs-1 rather than 1-vs-1, so your entire premises goes out the window, and instead a 4-vs-4 would be better suitable for all you desire in your post than your 4-vs-1, no?