I started this discussion because I was told that 25% water changes was old school and the new way of doing things is to do 75% changes and keep the water as close to source as possible. That is fine but then we have a member with a fighting fish in water with ph 8 and is being told to do large water changes with water that has a ph of 8.5. How is this good for the fish.
The issue is not as straightforward as this. An aquarium is biologically a closed system even though there is some exchange of gasses at the surface. At the same time, every process that occurs in the aquarium is subject to and will follow the natural laws involving biology, chemistry, microbiology, etc. Every chemical substance we add to the water will impact these processes for good or bad (usually the latter). As fish live, the water becomes polluted, and this does not stop unless we do a water change. No amount of filtration can remove pollutants; filters remove or more correctly capture solid waste but it breaks down into liquid and stays in the system. The water continues to deteriorate 24/7. The more fish, or the larger the fish, or the more they are fed, or the more inappropriate the combination of species are--all of this increases the pollution. Live plants do help, but with the fish load most of us have, this will never be sufficient.
Changing out a substantial portion of the water for fresh water on a regular schedule is crucial to a healthy aquarium and healthy fish. Provided the parameters are reasonably close, the more water changed and the more often, the better. But few of us want to be doing water changes like some discus breeders do--90% of the tank water changed two or three times each day in fry tanks. The fact that fry grow faster and develop better health in such conditions is absolute proof there is clearly a benefit in water changes.
I do 60-75%, maybe even 80%, once each week. My tap water is zero GH/KH, as are the tanks, so this is ideal. The pH does fluctuate, but this is less significant. Some of my tanks are below 5 in pH. My tap water is 7, achieved because they add soda ash to the water supply to raise the pH. This dissipates out within a matter of hours, and the stable biological system of the aquarium means the effect is minimal. Provided the GH is close, and the temperature is close, the pH is less of a concern.