I've never seen them suggested as being equivalent, but then again, I know of no side by side equal comparison between an injected CO2 tank vs. one where only a glut product was used.I wouldn't suggest that Gluteraldehyde is a good equivalent to CO2 gas being injected....
I have not read of a horror story associated with glutaraldehyde used in the hobby as well and have lots of substances, items, etc.. that could harm or kill a person or pet in my house that's generally got more kids and pets in it than I care to have. LOL.
Besides, my aquatic pets are kept squeaky, surgically clean as I use it.