I'm curious why dog food would not serve as a source of protein and fat for fish?

My brother who researched various types of dog food felt that one of the highest protein and fat dog foods is made by Diamond Naturals. IT is sold through specialty pet stores and through the Menards chain.

I found their Diamond Naturals Extreme Athlete ($.75/pound) has:
Chicken and rice formula specifically formulated with optimal levels of protein and fat to fuel your hard-working dog
Also designed to meet the needs of growing puppies and pregnant or nursing dogs
Made with 32% protein and 25% fat for balanced nutrition
Contains glucosamine and chondroitin to promote proper joint health
Balanced omega fatty acids promote healthy skin and coat

They also have a Diamond Naturals Hi-Energy Sporting Dog ($.46/pound) has:

Increase levels of vitamins and trace minerals for active sporting and hunting dogs
Made with 24% protein and 20% fat for balance and increased energy
Chelated minerals are more readily absorbed for excellent nutrition
Naturally preserved for freshness and taste

So dog food has in some cases as much protein as premium fish food but seems to have more fat (maybe this is why it is bad for fish?)

Probably the pellet size is a drawback for small fish but maybe if they pick away at the pellet as it softens, or you presoften it I wonder how things would go?

Just curious!