I think that it really just boils down to what YOU want.
I will forever be content running just two microphones into a two-channel recorder. I'm a huge fan of a basic stereo audience perspective tape. There's something so DIY and raw about it that I just love. Maybe it's the idea that an entire mind-blowing show can be captured with minimal gear just appeals to me more than any number of mics, matrixes or board feeds. Less is more, to me. How they taped back in the day is how I still roll today as a young buck, just with the gear of today. So, I can't offer much in terms of running more than two mics since it's just not my thing. More power to those whose thing is that.
Now, when I got started taping in Oct 2022, I started on the cheap. Rode M5s > Zoom H4n Pro. My stand, an On-Stage MS7701B, is the same stand I've used since the beginning and was leftover from when I was using it as an overhead for drums, so it didn't cost me anything extra. I've used it at nearly every openly-taped show I've recorded and it tops out around 7.5 feet. I'm generally satisfied with this height. Most of the shows I record are smaller local bands. If I were going to tape Phish or some big arena show, I'd break out my K&M 20800 (which very rarely gets used and is complete overkill) and be just fine with the 10 feet it gives me. Don't worry about stands or height too much, really. Simple is better.
Invest in a good USB battery, good SD cards, and record with confidence! The first few times I taped with a stand openly I was all nervous and self-conscious. Once I'd done it maybe five times or so, the shyness wore off completely. I think there's something of a social aspect of it as well. Most people going to a show don't expect to see someone in the crowd with a stand of some sort and they might get curious and wanna chat. I've had it happen several times. I don't like it when people get chatty because I'm not very outgoing/social anxiety and, much worse, is when they wanna talk while the red light is on. Had this happen just last night at a bar, old dude wanted to play 20Q with me right under my mics at the beginning of set two... So you have to be ready to deal with things like that. I'm fine chatting a little when there's no band performing, but otherwise, I have to navigate how to silently shut down a conversation while recording. A taller stand wouldn't work in this situation since most bars I've recorded in have poor acoustics, which means being closer to the stage is best. But, I also don't wanna be that guy blocking everyone's view with a pole, either... Six to seven feet is fine... To date, my voice is heard in none of my tapes, and that's just the way I like it, like a ghost.
There's a price to pay for all of this, too. I've only taped alongside someone twice so far, and never in an actual OTS. So if I have to use the restroom or grab a drink, I risk leaving expensive gear unattended and potentially having it get stolen. Unlikely to happen, but we live in some dark times, and anything is possible. Also, I have to completely babysit my rig the entire show. If there's one thing I absolutely cannot tolerate it's stand bumping. Similarly, I've had absentminded people on phones try to walk right through my rig. At Pink Talking Fish 1-5-25, Dave Petersen and I had some woman legitimately walk right over our bags and cables in the middle of the show while she was talking on the phone, entirely oblivious. So you have to really watch your six since people don't watch it for you. This all takes away, to some extent, the enjoyment of the show. I'm pretty hardcore OCD, and I like being meticulous, I don't want things touched, bumped, knocked or looked at the wrong way while I'm doing my thing. The end result has always been worth it, open or 007. But, for some people, I don't think they could handle this lifestyle. Too much money spent, too much time standing in the way back, can't chat, can't party too hard, whatever.
I guess this was just my experience as someone who's still in their 20s, but has taped nearly 60 shows in the 3.5 years that I've been doing this, the overwhelming majority of them being in 2025. Not so much focused on gear, but on this lifestyle and the things to be mindful of when getting into this. Great recordings can be made open, great recordings can be made stealth. Great open tape recordings can be made for less than $500 these days. Don't worry about not having a $6,000 rig. When I first ran open on Halloween 2022, I was using the M5s and H4n Pro... I will forever be able to sit back and, if I so choose to, listen, in real time, the entire 7.5 hour long recording of ten bands shuffling in and out of Prescott, AZ's now-defunct "The Den" (which my buddy owned) for that day's celebration. Besides the fact that it was my first open tape and my second tape in general, I was newly sober at the time, and late 2022 holds a bit of a special place in my heart, and having these recordings from back then means everything to me. Whether I had Schoeps or my $199 electrets, I have a recording that I created and delight in. That's what matters more than any gear. It's all about attitude first, and desire later, IMHO.
P.S. - Don't let taping become a chore, either. I've taped every show I've seen since 10-22-22, and while I'm glad I did, there's definitely been times where it felt like a chore. It can be a little much at times.