"nutrients" and especially nitrate and phosphate are no substitute for microfauna. First, microfauna that corals can use (think bacteria and other microscopic things caught in slime coats and not through polyp feeding) have real energy like carbons and useful forms of phosphorous and nitrogen. Nitrate and phosphates are fools gold and most corals cannot use them without a large expenditure of energy to convert them to other forms. Real energy comes from the light through the zoox and if a coral can catch any useful food.
Nitrate and phosphate are not food. They do not have any energy. They are not even a good form for our corals to use. Nitrogen and phosphorous are building blocks of life needed for organic tissue to grow, but these things are obtained by corals mostly through ammonia/ammonium and polyphosphates from fish waste. Our test kids only test for orthophosphate which appears to be the least useful form.
Yes, nutrients are important, but nitrate and phosphate are not that important, as long as they don't get too high.
There have been some wonderful discussions about these things in the Chemistry section lately with some smart folks. In summary, the nitrate thread could be understood with 2 things... first, the only thing in a tank that NEEDS nitrate is denitrifying bacteria, and second, that no3 might be a sign that your tank is not deficient in nitrogen in other forms, have not having any nitrate does not mean that any tank is deficient (see denitrifying bacteria from number one).