Nitrate is a bacterial waste product.
As part of my job for over a decade as a chemist/water analyst, I measured water parameters of raw lake Michigan water.
Nitrate barely ever exceeded 1 ppm, and then only during seasonal lake turn over (never higher than 2ppm.
Nitrate averaged under 1 ppm, most of the year.
My testing procedures were using the same method as API, but using much accurate photospectrometers, and EPA required reagents, to read results that measured down to the hundredth place.
Here in Panama, I use the simple aquarium API kit, and in non-polluted areas.
All samples presented so far, have been 5ppm or below.
Samples taken in any polluted agricultural area, where heavy fertilization is used, are much higher.
I look at nitrate above 10ppm as a chronic causer of stress.
Probably not relevant for short lived fish species like cardinal tetras, of small live bearers, with normal life spans of 3 years or less.
But for species like oscars and other cichlids that easily live 10 or more years, chronic can be an issue.
Although it may not cause acute reactions, in fish with long lives, HLLE, and other diseases seem to be exacerbated by any higher nitrate concentrations, but usually not visually manifesting until they are adults.
Its effects are similar to diseases like lung cancer from smoking.
1 cigarette per day for 20 years, maybe no prob (akin to a constant nitrate concentration of 5ppm).
But a pack a day for 20 years, emphysema, and tumors in many (not all). (akin to a nitrate concentration of 20ppm or above)
Additional stress causes may also determine the outcome. i.e other water parameters outside that particular species norm (like a soft water species held in hard water), crowded conditions, over feeding the list goes on.
We only need to look at the disease section, where anecdotal evidence is rampant, where posts like "why is my oscar showing signs of hole in the head? I haven't done anything different".
and when asked to show water parameters, and nitrate is 20-40ppm or higher, along with 3 times per day feeding, and few, or same water change schedule as when the oscar, severum, P-bass or other large cichlid was 2 or 3"..