What works for some may not work for others, but I am completely against the concept.
I heard David Saxby once say "In this hobby, we don't keep marine animals, we keep water". Which is true. This hobby is completely about taking care of water, and the animals that live in that water is the bi-product.
By conducting water changes, I feel that we cleanse the water of our intentional manipulation. That is, we remove macro and micro nutrients, contaminants, and minerals that we intentionally and unintentionally add to the water column which otherwise would not contain these items in those concentrations.
The salt that we buy and mix into our water changes has precise amounts of various minerals and nutrients which are calculated based on probable nutrient uptake and duration between changes and is specifically formulated to reproduce ideal conditions.
I feel strongly about the need for water changes, and feel that it is one of the most important regular maintenance that should be performed. Obviously, tanks and beautiful ones at that, can be maintained without water changes and with various dosing of necessary elements, I just find the proposition too risky.