There is reason to think the differences are biotic vs. abiotic, between the two. Our digestive system is dependent on healthy microbiota. Pasteurization would be the difference here.
Raw milk is on the fringes of the same argument that whole foods play a more beneficial role in healthy gut microbiota and digestion, and that our current models focusing on nutrient composition are incomplete. It says that our measurements are off, and that there’s more to nutrition than composition alone. https://pmc.ncbi.nlm.nih.gov/articles/PMC11901572/