You're on the right track with your questioning, it's just that no one has come up with a really definitive answer as to why corals seem to look better to many after a water change.
And for some, the opposite is true so we can also throw that into the mix.
I agree !
My thoughts on the subject...
A system's diverse microbial community is of paramount importance since without it all the fancy equipment in the world won't achieve a successful reef aquarium.
Exactly, without these bacterias we wouldn't have nutrients nor nutrient exports that create this cycle that enables coral reefs to exist
Having said that, excellent/durable equipment (and backups, if possible) contributes to long term success/longevity.
Having the least amount of equipment (that still provides for a favorable reef aquarium environment) helps to prevent 'reefer burnout' (less fiddling/repair/replacement/chance of mistakes) and also makes the system more robust (minimization of failure points).
Given enough time (and some restraint from us to not constantly tweak and meddle) the simplest of systems often outlast all others.
I personally have always and still to this day perform water changes. This is really my only method of exporting nutrients, along with Mechanical filtration (filter floss) and Biological filtration.
I have not yet come to the conclusion of whether it is really worth it to invest in a protein skimmer, Algae scrubber, refugiums, etc, etc.