Thanks for spending your time to explain about schema Binding.
If MyView is schema bind no one will be able to alter the dbo.MyTable table unless they drop the table.
If a view is schema bound, even dropping the table is also not possible. Either you need to drop the view or you need to remove schema binding. You can just modify the columns which is not included in view definition.
Just think that someone drops/alters the table dbo.MyTable without paying any heed to our view. Now that would leave our view nowhere. Hence schema bind it, this will prevent any such accidents from happening.
There are few limitations in schema binding like all the objects should be within the same database. You cannot use synonyms in view definitions etc...
Desire to learn new things..