As a fellow Michigander involved with the West Michigan Walleye club and our fish pond here in GR, fish stocking cannot fix overfishing and habitat destruction. We stock cool and cold-water breeding species like walleye, pike, trout, and salmon because their breeding areas have been destroyed.

The process turns a productive, diverse pond and stream system into a monocrop so we can still have walleye for sportfishing in a select few lakes. It can help the species survive until we can get our heads on straight; it's not ecologically healthier than the natural state.

Some do but oceanic fish can be much harder to breed in captivity, than their fresh water relatives are. There have been some successes such as the striped sea bass hybrid:

https://en.wikipedia.org/wiki/Hybrid_striped_bass

That being said, many oceanic fish such as the Snook, Snappers and Groupers are not as simple, there are some promising results from a few areas in concerns to these species but most of them center around farm pens in the ocean. so not really brooding and rearing them in on shore artificial salt ponds which would be far more cost effective.

Great for recreational "I'm going fishing this weekend", but I'd imagine it'd be a drop in the bucket where commercial fishing is concerned. A single ship might catch millions of fish in one go.

Yes. Many lakes around here (Alberta, Canada) have stocked lakes where fish didn't even naturally live. Many lakes are also home to commercial fish stocks. Then there's also actual closed system fish farms.

The main issue with fish farming is that in some parts of the world more desirable fish are fed fish meal from ocean-caught fish (SMH)...