I like the sand for many reasons.
First, I like the critters that live in it and the jobs that they perform. I like that the sandbed will keep all kinds of microfauna that will destroy ich tomonts, or at least make them fight for their lives when they drop off of the fish. I have a cucumber that will divide and grow to equilibrium with the amount of gunk in the sand. I like the looks, but this is secondary.
I like that the sand will buffer a bit if the parameters get out of whack - nearly impossible to crash a tank with sand since it will melt and provide alk if the alk gets too low.
Mostly, I like that the sandbed provides massive surface area for oxic and anoxic bacteria and that the anoxic bacteria will keep the N low, but not too low with always enough present to keep the equilibrium moving forward, but not too much to limit calcification... basically, enough nitrate to not be growth limiting, but not high enough to cause any issues... low, but not too low. I am usually about .1, but sometimes can get to .2 and you need an ICP test to even detect it.
I also like that the sand (and rock) provide a buffer for phosphate. This way, it is nearly impossible to get too low since the sand will release some if the water level goes down, and absorb a bit more when the tank level gets higher. I like to skim a lot and grow macro and my P stays pretty low, but the sand buffers it to near perfection around 1-5 ppb, but it is usually about 1-3 ppb.
To summarize, I like to import and export heavy with lots of available N and P, but with low residual levels. The sand plays a huge part in this with nitrate reduction, phosphate buffering and ich/fish-parasite management. I do not want to do any of this myself, so that is why I do not go bare bottom where more personal intervention is needed to do the jobs that the sand does.
-----
I do believe in maintaining the sandbed. I really loved Dr. Ron, but he got a few minor things wrong with his whole sandbed philosophy even though he got a WHOLE LOT right, IMO. Even though the detritus that falls to the sand is quickly consumed of any nutrients and becomes benign, I like to get it out because it can "gum up the works." I vacuum the sand in small quantities with months in between about every 4 years. You can never get under the rocks, so just what I can get to. The slowness allows the oxic, anoxic and critters to re-establish after the grey gunk is removed. I also have to replace some sand when it gets "low."
@Dr. Jim To your point, I have never had a sandbed get solid, but I have heard that this is usually a pH thing, but I do not know for sure. There is no need for a plenum, just sand on the bottom is fine.