It all looks magical because we generally lack the resources and training to look for ourselves, and the microscopic world is challenging. I'm not trained to do my own research. We know it happens, and how is interesting it is, but it's still unclear.
We'll probably get there, but we're going to be uncertain about the details for a long time.
As with everything, I hope the researchers will disagree until a consensus emerges, and then I hope if more info comes in, that consensus will change. Once products are involved, my filters go up.
The world of bacteria and archaea is very complex - we live in the Age of Bacteria and it isn't humans that run this place! We don't even run ourselves without our fauna and flora. With the cycle and ammonia, we're dealing with a food source that can kill our fish, and diverse things will feed on that source. It's that way with all foods on this planet.
I treat the cycle as a process I can't name the parts of but can manage. I establish filters in planted, older tanks and install them in new tanks, along with plants from equally established set ups. I haven't lost fish or had symptoms of ammonia problems in a tank for decades.
For me, naming the bacteria and archaea isn't crucial. It's important for aquarists to accept that the cycle happens, and that managing it is essential. That information is established.
You don't want to oversimplify what we're looking at, but I haven't ever made the decision to become trained in how to analyze the details, and I'm not alone there. So we keep bringing the papers as they're published, and if we're so inclined, we keep reading them. If we aren't so inclined, we still respect a process we have to be involved in if we're going to keep fish alive in aquariums.