Short answer: the bank won't give your shiny new tree-planting business a loan as easily as it will to a "liquid tank tree replacement" one.
Long answer:
- Trees take time to grow
- Trees need to be planted
- Trees make shade
- Animals like birds and insects like bees and mosquitos like to live next to them
- Trees don't need electricity
- Trees take in heat radiated from the pavement
- Trees don't look cool
While algae are more efficient at turning CO2 into oxygen in theory, in practice algae don't have a good climate in such a tank (no oxygen without ventilation, i.e. constant electricity and they get cooked through the glass).
All in all, more of a gimmick than anything.