Although I agree about not bothering with chemicals.
I do believe nitrate "is" toxic, maybe not in the acute sense for adult fish, but over time high nitrate creates chronic problems, which tend to disfigure fish with HITL scars over time, or create conditions where normally non-pathogenic bacteria become problematic. I don't think I can count how many oscars I've seen dropped at LFSs with tons of scars.
Any nitrate level over 20ppm is considered highly stressful for fish, and when you compare that level to natural waters, it is quite high.
Most tropical lakes and waterways have nitrate levels lower than 5ppm.
I tested Lake Michigan water as part of my daily job as a chemist, and its nitrate level was less than 1ppm most of the year, and never exceeded 5ppm even in the worst of conditions.