If you stop doing water changes because you have a plan, discipline, and proactively monitor/do other measures.. I think probably not a bad idea.
If you stop doing water changes because you don't like them, or can't keep a routine, but don't have a plan/testing/other-routine-activities to ensure your tank is healthy and staying healthy.. I think you are playing russian roulette.
Aside from the benefits of WC, I think the ability to define a routine and maintain the discipline to sustain it over long periods of time is what leads to a successful tank.
I don't think there is some magical nirvana of chemicals, or livestock, you can just put into the tank and have success. Either your time is doing water changes, or doing testing, or other proactive measures to ensure tank stability. Atleast not with the same success rate that those who do maintain a regimen and discipline see.
Bonus rant

I think challenging reefing norms is great, but I fear more often than not people seek to believe in these new theories to reduce the 'effort' for keeping a reef tank. I think finding better ways to sustain a reef with less effort is great -- but I think it's dangerous when people chase these 'less effort' methods while also removing the discipline needed to maintain a reef.
my .02 cents