Okay, knowing that people want better sources than YouTube, I took some time to look into this properly.
This research paper presents a nuanced view, with some examples of negative imapct, some of beneficial effects, and some rather ambiguous: Where are they all from? – sources and sustainability in the ornamental freshwater fish trade. The paper is paywalled, but this article in Fishbio summarizes it: The Aquarium Trade: Fish Conservation Friend or Foe?.
The abstract of tis paper also suggests similar nuance: The aquarium hobby: can sinners become saints in freshwater fish conservation?.
These are examples of the kind of nuanced discussion I had hoped for in this thread.
Another article, on 50 species that only exist in captivity, was not sufficiently academic, so I extracted the fishes from its list and verified them separately. They are:
Banded allotoca – Allotoca goslinei
Potosi pupfish – Cyprinodon alvarezi
La Palma pupfish – Cyprinodon longidorsalis
Charco Palma pupfish – Cyprinodon veronicae
Ameca shiner – Notropis amecae
Kunimazu – Oncorhynchus kawamurae – exists in an introduced range
Golden skiffia – Skiffia francesae
Monterrey platy – Xiphophorus couchianus
Marbled swordtail – Xiphophorus meyeri
Lucy, I promise I didn’t plan it this way – that all but one fish (Kunimazu) on this list were from Mexico. The following quotes are from the article:
Since 2004, La Palma pupfish have been bred at the Toronto Zoo too, but a bacterial disease was detected that led to the death of the captive fish. Fortunately, the species is also being bred separately by private and public breeders.
Charco Palma pupfish are just about 45–50 millimeters in length and are now being bred in aquariums.
A third species from the same former habitat is extinct: Cyprinodon inmemoriam. The specific epithet means just what it looks like: in memoriam, signifying its extinct status.
Now, “private breeders” could be taken to mean instututions; but I also found the following:
Of the Monterrey platy, Wikipedia says, "“Safety populations” are maintained in captivity by the Centro de Resguardo para Peces en Peligro de Extinción at Universidad Autónoma de Nuevo León, Mexico (maintaining both the typical form and X. aff. couchianus), Xiphophorus Genetic Stock Center at Texas State University, United States (maintaining typical form), via the American Livebearer Association that mostly includes private aquarists in the United States (maintaining typical form), and by XNP conservation project members, which include public aquariums, universities and private aquarists in several European countries and the United States (maintaining typical form).
The latter organization also maintains the marbled swordtail.
Look, I don’t like this situation either. I find zoos and public aquaria depressing because the animals do not have nearly as much room as they would on their natural home ranges (the same reason I find “inside cats” depressing, but let’s not get into that here). But if that’s where we’re at, conservation wise, is it better to just let them disappear while waiting for the waterways to be cleaned up and restored?