Based on the pic and the videos you posted in your other threads, the seams (that we were able to see) look clear, which is good. But the tank is underbuilt which is why you have so much deflection. Building tanks to the bare minimum specs to save money seems to be pretty common, but a certain amount of deflection over time is not out of the ordinary.
I've seen 4' tall tanks built out of 1" that have been up and running for decades without issue.
For what it's worth, I have a 10'L x 3'W x 4'H Tenecor tank made of 1.25" acrylic and it also bows quite a bit in the middle of the 10' panels. It's been setup for 4 years. When I first set it up, I did the same thing as your husband; I placed a level on the front panel and if I recall correctly, there was a 3/4" gap between the level at the top and bottom of the tank. I wouldn't be surprised if it's increased since then (I'll have to measure tonight when I get home). My tank also probably should have been made out of thicker material, but so far the seams are holding up and all is good.
A panel completely being blown off is really rare and would more likely be from a manufacturing defect (i.e.- poorly welded seams); from what I've seen, seams splitting (although not common) is much more common than a complete blowout. I think the biggest concern would be if you are in earthquake country...if it starts shaking, get away from that tank.

Disclaimer: I am not a materials engineer, but I did stay at a Holiday Inn Express last night.