Hormones are a good argument...but it seems very unlikely that they accumulate long-term. They are volatile organic compounds.The point is that over time there will be a build of a "things" (whether that be nutrients, or hormones, or whatever) that the filtration in a conventional tank cannot take care of. As many have mentioned, the point of doing water changes is to maintain a relatively balanced level of "water quality" (and I use that term loosely). By replacing portions of the tank water on a regular basis with water that is filtered beyond the capabilities of an aquarium filtration system, that balance is being maintained.
So back when the IACUC said that we must all use under-gravel filters, then you had to assume that everyone SHOULD use them, even though they appear to have been a really, really bad idea. And in the 1950s/60s, when the medical establishment said that breast feeding was something to be avoided, then everyone should have obeyed them.Also, (and I apologize for the logical fallacy but I feel the point needs to be reiterated) if IACUC, the organization in the US that is charged with the responsibility of maintaining the health of laboratory animals, requires water changes in labs using fish, I have to believe that they are a "necessary evil," as you labeled them. If IACUC did not deem them necessary, they wouldn't require it, simple as that. IACUC makes the lives of researchers hard enough, and I can only imagine the time/expense that large fish labs must put into water changes (I work in a rodent lab so I see first hand how their rules affect our operating procedures). If it wasn't necessary for the safety of the animals they'd have a pile of angry scientists coming after them.
Trusting the rules of a bureaucracy is one of the worst kinds of authority-worship.
Actually, I'm not certain the IACUC does not STILL say that under-gravel filters are required. I would assume they just say "adequate filtration". But at one time, only UGF was considered adequate.
What do their guidelines say about freshwater deep sand beds?