Piranha

THE ANSWER
"Piranha1" — Wikimedia Commons / CC BY-SA 3.0
Small in stature, but legendary for their communal ferocity.
These freshwater inhabitants have a reputation that far exceeds their actual aggression toward humans. They play a vital role in keeping their river ecosystem clean.
Explanation
Did you know?
They are surprisingly shy and only attack in groups when they are significantly stressed or starving.
The 5 Clues
lightbulbClue 1
“My cinematic depiction is heavily exaggerated for theatrical effect.”
lightbulbClue 2
“I am a scavenger that helps regulate the health of my river habitat.”
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“I possess a set of razor-sharp teeth designed for precise shearing.”
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“I am a freshwater fish native to the basins of South America.”
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“My name is often linked to a frantic feeding frenzy in murky waters.”
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100%