Interesting question. It would depend on many factors like what size tank, what coral type, how large of a water change and even how sensitive each coral is as not all even of the same genus are made equal? You could likely get away with water changes only with a softie based tank. Once you get into LPS and SPS the demand for supplements will go up as they grow. Sure you could keep them alive for awhile on frequent large water changes, but usually the demand will out weight the gain from a water change. Dosing what ever the method will be easier in the end than trying to battle calcium and alk uptake with water changes alone. The corals may live, but will not thrive and I think that is the goal to keep a healthy thriving tank not just keep it alive. I have gone long periods without dosing in the past and it was way harder trying to play catch up then just dosing supplements in the first place. Hope this helps. There is alot more that could be discussed on the subject and there are many ways to tackle this hobby successfully. If water changes alone worked then dosing wouldn't be the norm, but that isn't the case. I don't think my current water change schedule could even keep up with just my coralline growth.