Just because someone does it and posts it on the internet does not mean it is efficient or should be used. 20 years ago an aerator and and UGF (under gravel filter) were the staple for fish tanks. Now we know how inefficient they are in holding good bacteria and nobody in their right mind would use that set-up. Power UGF are sometimes used, but not very regularly. In either case, it is for an aquarium with very few fish and lots of water, and even then it is the most inefficient of all of the styles. You essentially built an UGF style that is attached to the side.
The koi ponds likely have way more filtration and water being pulled through there in order to make it work. Not to mention they are holding 800-2000 gallons of water for 10 fish, with lots of live plants to soak up nitrates. With your bait tank you are holding a lot of fish in a little water with no plants… which means higher ammonia and nitrites, and more filtration needed.
I’m not speaking out my [censored] here, I have built and maintained both ponds and bait tanks for a long time. I have seen and tried almost every method. The two best for your situation would be either a large pressure filter or a large external bio filter.
The way you have it now, it will not work once you fill it up with fish and the toxins start accumulating. But if you were to use it for a dozen or two minnows it might work okay.