Hi Kim,
I recommend giving the subsetVariable a try with the Summary Group variable and the species/taxon. See what it looks like and if it meets the needs of your community. Your use case seems appropriate to me and it shouldn't be to much trouble for ERDDAP to handle both.
Something to consider is the fact that power users don't poke around the dataset webpages in ERDDAP, they use clients (python/R) to search, subset, and gather data. The subsetVariables are helpful in the web browser but might not mean much to power users. Just keep that in mind so you don't think too hard about the decision. ;)
Feel free to reach out if you have more questions.
Matt