It does do well in the notion of keeping it as an immersed plant in shallow aquariums or in refugiums. It will filter the nitrates and phosphates quite nicely. Only thing is, if your tank is already well planted, you wouldn't want to drop the nitrates to 0. So I would say it would be great in perhaps an African cichlid refugium setup.
I saw a nice ten gal tank setup at a thrift store with submerged lucky bamboo.
I warned them that it is not an underwater plant. Later I come back and the tank is gone. Fish starting to die off. I don't know for sure, I am guessing that having their lucky bamboo rot and die off contributed to their mystery fish deaths.
It works as an aquarium plant as long as you are willing to allow it to stick up out of the water.
I keep lucky bamboo in my twenty gal high and it does well except it gets too much light where I have my tanks...So I've had to move it towards the wall edge.
If you are talking about true bamboo, cannot help you there.