People still go smelting in Lake Ontario on the US side every spring. I have had many great nights out with my Dad, Dippin' Smelt. Two white plastic buckets full wasn't unusual or difficult. Cleaning them was. Scissors and a few hours work. I don't fish the big water much any more.
I prefer the cleaner water in the Finger Lakes and even that is a bit problematic.

There are land locked smelt in some of the Finger Lakes as well. Along with catch restrictions that the Big Lakes don't have.

The issue about chemicals is different depending on the lake and which side of the water you are on. The Lake Erie Fishers could well be miffed by the song but they aren't singing it based on Canadian laws and Canadian sensibilities.

Don