This is an interesting topic! I once came across this video, or one very similar to it on another non-aquarium related forum and I thought it was explained....but can't remember exactly how it goes other than it may be similar to one of those aquarium bridges, like the one you can see by clicking
HERE.
Anyways, I am sure I am wrong, but I remember something about submerging the tank upside down in another tank which is full of water, then pumping the air out of the upside down tank, which creates the vacuum needed to pull the water up and keeps it there...but if the seal is broken (e.g. because of evaporation), then all that water falls back down. I also thought that the air bubbles were actually carrying food or something....and the reason for how quickly they ascend is due to the powerful vacuum that is created since air is lighter than water. Perhaps the air pump is needed to continually remove the air. I will have to see if that forum I was one way back when is still around or archived.
I did just test that theory out though....I placed an empty cup in a sink full of water, submerged the whole thing while it was right side up (so no air is trapped) and then turned it over and tried to pull it out of the water....it is hard to pull out and for a split second, it did look like some water was still in the cup above the water line. Could this be how it is done...or at least partly (and with the aid of some pumps, air or otherwise)?