unfortunately there are dozens of trace elements that a calc reactor doesn't replace. many we dont test for and more that we are unaware of their utility (if they are or arent needed) water changes replace these trace elements that we can't through other means... if they were being replenished all of them through some other means (of which I am unaware) then water changes woiuldnt be needed.
IMO we currently lack the knowledge and abitlity and technology to maintain ALL of the trace elements through other means.
nutrient export can be handled in so many ways that if water changes were being done solely for nutrient export then it would be very easy to set up a system not needing them, provided you have all the right equipment, skimmers, calc reactors, DSB, LR, algae scrubbers, macro fuges and on and on. the ways to effectively remove nutrients from water can take up a rather large book.
another thing to note is many of these Nutrient export methods also deplete these trace elements. protien skimmers are really efficient at pulling calcium out of water (it still amazes me how many people don't know this or refuse to believe it). various macros also utilize calcium/alkalinity to grow along with other trace elements. how would we know if through setting up all our devies and methods to remove nutrients we arent depleting some little element that we dont test for and we dont have a "dose" for that while not knwon to be critical slowly tips our tank from healthy to marginal and on into unhealthy..
well I say thats my .02 on it I could keep blathering but who wants to read a 2 page post
P.S.
I have never had tanks look better with more equipment and less waterchanges, in many years I have noted that my tanks always thrive with lots of waterchanges, no matter how much other stuff I do to my tank. thats why I swear by my 50% water changes. when doing less yes they can look great grow and so forth but when doing insane amounts of water changes they really explode with life and vitality. ok enough now reef, just walk away LOL