I'm one of the people in those linked threads that reported a bacterial bloom a couple of years ago. I had no fish losses, but I attribute that to a good skimmer and other oxygenation sources.
I have been dosing on and off, for a couple of years now. Am I playing russian roulette? Well, sure. But so is mixing electrical devices with saltwater.

I do not suggest this method to newbies though. In fact, some experienced reefers would be a bad fit as well, those types that always believe more is better. It takes very little to make a big impact.
For me, dosing vodka is my preferred way of dealing with phosphates and D.O.'s. But I have found it's easy to overdo it. Corals do need 'some' nitrogenous waste.

Hence, a lot of european reefers I converse with use amino acids. They feel amino acids is no more that supplementing a nitrogen source. Nitrogenous waste without phosphates, that is.
A couple of things I noticed that were negative, were:
1)Coralline algae doesn't grow for me with overly diligent dosing. No brainer, it's an algae!
2)Longterm overdosing caused some sps to appear almost bleached. They resembled the sickly looking corals you see sometimes in other bacterial method tanks(zeo,probidio). The remedy was to back off a bit.
The latest lesson really for me is, that sometimes the signs of overdoing it will take months to materialize. And the benefits of correct dosing will not manifest immediately either. The above 2 examples are long-term effects of overdosing, IMO. Cutting back in my case was beneficial.