I find that most explanations fishers provide for using one gear or another are examples of stories that behavioural ecology skeptics refer to as, "just so" stories. Where the overlying principles may in fact be true regarding light and color attenuation with depth, they feature neither empirical proof, nor research into the matter demonstrating sufficient evidence (anecdotal or not), that would convince me that these principles govern fish behavior and observed hook-up success. They sure do sound elegant and fitting enough, but to be true, the burden of proof must be demonstrated in absence of confounding factors, which are absolutely ubiquitous in fishing.
In these moments I refer to the law of parsimony. The solution that creates the fewest new assumptions is usually correct.
It may not be the experience from hatch matching advocates and gear-color advocates, but from my personal experience fishing for stream trout, lake trout, river steelhead, river salmonids, ocean salmonids, and just about anything else - color and hatch-matching makes little difference. Just about the only identifiable trend I have observed is that brighter colors work better in turbid/cloudy water. Consider the pink fishery on the Fraser mainstem. Water is usually muddy or at least partially clouded with dissolved solids. Everyone and their dog uses pink spoons, but those using bright yellow, bright green or blue, sometimes just a silver blade or spoon are also catching fish. Often there are other factors influencing things that one does not consider, like lure movement, depth, incidental noise, and placement.
To me, the terminal end, so long as it is presented correctly and in the right place, will evoke a bite nearly regardless of the identity of the terminal tackle. I have caught trout on cigarette butts to prove this point to friends before. This point is also brought up by Alfred Davies in his book, "The Gilly", where he refers to the fly being maybe about 2% of the importance with respect to catching fish or not. People focus so much on this one detail, however, that others, perhaps more important ones are ignored. From my experience, you have to look at all the details in order to avoid missing one that may be important. Only time refines the understanding of the how, but the why will always remain a series of "just so" stories to me.
I would be very careful with what you attribute to fishing success. A saying I keep telling myself and to others about fishing is that,
"If you don't catch a fish, it doesn't necessarily mean you did something wrong - and if you do catch a fish, it doesn't necessarily mean you did something right either"
On the side of literature, there is some supporting work that shows pretty clearly that juvenile salmonids and trout eat what is available in the current prey field. Maybe we give the fish significantly more credit with respect to intelligence and selectivity than they deserve.