it is a modest strategy and dependant on bioload of course. But so cheap to employ, and easy to remove if you don't like it.
My LFS finally tried this with a 55 gall tank full (nearly to the top) of sand with a good stream of water traversing the length of the tank. It was staggering how fast it reduced nitrates on a nearly 2K gallon system.
A 5 gallon bucket with a 60lb bag of sand filling it can do similar/remarkable work on say a 90-120 gallon tank. A larger plastic garbage can (kitchen size... 20 gall or so) with a couple hundred lbs of sand, etc.
The goal here is denitrification and buffering (if using aragonite).
There are not many other benefits... and not many risks either. Unlit and with a strong stream of water over it, its a fairly brainless application
Cover it and keep it dark... there is little to maintenance to speak of for it. You can imagine that with the good water flow (key) or even mechanically prefiltered water... there is no way for this to practically become a nutrient sink, as the small fast volume of water cruising over it do not allow the settling/sinking of much solid matter over time.