I'm a big believer in water changes and have crashed my tank by not doing them.
It's a case of diluting whatever is going in to your tank, particularly the things we can't or don't measure. The things that are going in come from source water (yes even RODI), dosing, salt mix, soap, detergents and surfactants from your hands or elsewhere, and air pollutants from sprays, cleaners, corrosion and leeching from equipment etc.
Most brand name balling dosing products contain trace elements and promote their benefits. Most have heavy metals in them like copper for example. You aren't just dosing calcium and alkalinity but any number of other trace materials. Most people assume this stuff is being taken up at the rate it is dosed. But, take up of any element compared to another would depend on the type and quantity of corals, and other biological and chemical factors. So unless you are doing regular water changes there is no guarantee there isn't a built up of one element or another.
I thought that I could slow down or stop water changes because I was dosing all the trace elements that would normally come in via a water change, my N and P were where I wanted them and I kept stable calcium, alkalinity and magnesium. I was wrong. I took and ICP test to find that heavy metals and other elements were all on the high side. Copper for example was at .08! My tank only started to recover when I started doing regular water changes again and switched to plain old two part.
My advice is, if you are a beginner like I am/was, there is no insurance like water changes and if you really don't want to do them, you better be investing in plenty of ICP tests. And even then, they don't test or detect everything.