Why is it acceptable in chemistry to "cancel out" chemical species from a chemical equation that appear on both sides of a chemical equation (as reactants and as products)?
On the one hand, it makes sense, since you could argue that if a set amount of a chemical species was used up (reactant) and the exact same amount of the same chemical species was also produced (product), it would seem as if the species was chemically inert and you could "ignore it" from the chemical reaction.
However, on the other hand, you could also argue that the reaction, might not happen if that said chemical species (that appears both as a reactant and a product in the equation) wasn't there.
For example, (this is from an application of Hess's Law exercise), the following reaction:
$$\ce{2CO2_(g) + H_2 O(l) + 2C(s) +\frac{5}{2} O_2 (g) +H_2(g) -> C_2 H_2(g) + 2CO_2(g) + H_2O(l) +\frac{5}{2} O_2(g)} \tag{1}$$
can also be written as:
$\ce{2C(s) +H_2(g) -> C_2H_2(g)} \tag{2}$
However, reaction (2), as it is written might not be able to happen, since maybe the chemical species that have been cancelled out, might be needed for the reaction to take place?