Your point that you need both N and P to grow organic matter is well taken. However, the numbers are not really accurate since if a tank had .25 of water level phosphate, there is a massive amount bound in the aragonite that will get released when you start to lower that water level. In the end, probably more phosphate left over even if you took the N down near zero.
Aragonite as a P reservoir should not be overlooked as an intended consequence of not exporting enough. It can take a massive amount of media down the road to get it out later.
To remove 20ppm nitrate by bacterial growth +- 2 ppm phosphate is needed. If only 0.25 ppm is available this amount includes the P released .. Your opinion aragonite will release the P needed? This means in a 1000l tank a lot of aragonite is needed ( +- 0,2% P).
Using photo-autotrophic growth ( AAM) it depends on the species but the need for P will be a lot less; some bentic algae can take up a huge amount of nitrogen compared to P. That is why we prefer to use a refuge. More nitrogen can be taken up in relation to P at low growth rates, limiting the risk for P starvation. P starvation takes place at very high bacterial growth rates using ammonia, not nitrate. ( bacterial bloom)
If P is released from a substrate due to low availability in the water column, P will always be available. I doubt it will happen just because of having a low level. In the case there will not much aragonite left in systems using GFO.