Hello folks, I'm new to the forum although I've kept fish all my life [45years].
I decided to jump in on this thread as I have been using silica sand for years in various applications.
Over all I really like it and find it looks natural. Some fish seem to enjoy scooping up mouthfuls and spitting them out. Flounder ONLY seem to thrive on sand and sand makes a nice substrate for plants and is MUCH cleaner than soil.
An interesting benifit I actually discovered when I kept some native flounder in a saltwater native tank is that I never got purple slime. Purple slime algae has always been the curse of my saltwater aquariums as I like butterflyfish and use lots of meaty foods like clams and mussels. The food is very high in nutriants and slime was inevitable. Until I went to beach [silica] sand unstead of calcium based subsrate [argonite etc]. No purple slime has ever grown in a tank with silica based substrate since then. I don't fully understand the science but believe it has to do with the availablity of phosphorus [slime fertalizer] and its relationship to calcium.
The downsides of silica are for one as previously mentioned, the sand takes on a dirty brown color. Brown algae-like material also coats glass and decorations. This is the trade off for purple slime. Instead of slime, silica promotes diatoms which actually extract disolved silica from the water collum. The diatoms form a thin algae like coat, especially anywhere there is current. This is true in both fresh and saltwater. Personally I find the diatoms are a worthwhile trade off as it doesn't look anywhere near as bad. I just scrape the front glass and let it grow forever on decorations. Purple slime can not be ignored because it grows so thick and takes over. The diatoms always stay thin and just look kinda dirty. I'm a natural kinda guy so to me it looks realistic.

The other downside is more severe. as mentioned silica sand can get stired up into the water. It doesn't stay suspended for long but if any grains of sand get sucked into powerheads or filters, they will ruin the shafts and impellers. It just means you have to be careful and occasionally buy new impellar assemblies for old filters.