I would say environment (water parameters, tank size, temp) are more important than food provided it's a 'normal' situation. Water quality doesn't mean much if you're feeding mostly filler, and high quality food won't do much if the fish lives in a cramped, filthy tank. But we have a tendency to over feed and you can only increase the amount of nutrients before you're doing more harm than good (imbalanced nutrition, fatty liver disease, and decreased water quality). I assume fish in nature have adapted to grow fast on adequate or less than adequate nutrition to avoid predation. Poor water quality is like swimming in a soup of toxins; it impacts a fishes health which makes them spend more energy trying to fight off infection or heal compromised systems. So I'd say given an adequate, average diet water quality is mute important
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