When I switched from the balanced aquarium myth era to the water change era, the main thing I saw was with my killies. They were ideal, because they only live two or three years. In the no water change era, they lived 18 months at best, and with clean water, that rose to an added 6 to 12 months.
I was also able to breed some difficult rainforest fish I don't think I could have kept.
I saw fewer diseases. I used to keep an Ich med, a fungus med and a velvet med on hand at all times. Once I upped the water changing, I haven't seen a single case of fin rot, or needed a fungus med even once. Incidences of velvet dropped off. Ich remained a risk with new arrivals, especially during the cold months.
At the outset, I thought water changing sounded sensible, but I did it monthly at best. Sense is one thing, free time is another. We're talking in the early 1990s, when I had always had at least one aquarium for 25 years. Going to methodical, scheduled water changing took another 5 or 6 years from then.
Fish grew larger. I thought I had bred up a dwarf variatus, but one generation after I started weekly water changes, I had 100% full sized adults. Oops.
Some fish lived long. Generally though, I bought a lot of fish when I didn't do water changes.
I didn't do it as an experiment. I had no control group. I wasn't trying to prove anything. I had 3 tanks when what I was reading strongly suggested water changing would help. It made sense, and the success I had (and the over all experience I gained) sent me along a path.
I'd argue
@Magnum Man that you're lucky you see nothing. There's a local aquarist who did zero water changes, just top offs for about 6 months, then did a large 80% change and killed her fish with the radical change in water composition. I did that once early in my learning curve too, but she is now accusing all who change their water of being fish murderers. Ah, people. But the period when you increase water changes after a long period of minimal intervention can cause some wild fluctuations, and is a dangerous transition zone in older tanks.
Check back in with this question in 2, or 5 years, and I think you'll see it differently. You're playing a long game here.