Ah I just moved recently and had to figure out
again what works. In fact, I'm going to convert another room when I have the time to supplement the walk in so I will have to rethink this again soon.
So hundreds of bags later, I have a system for my most used top 80ish that made it into my closet.

The rest are currently stored in the closet of the spare room (which would need to be "dealt with" when I figure out design for converting that room.
Each bag is inside its easy access Velcro opening rectangular cube that has its color photo on the opening flap so i can easily see which bag it is.
I group them by how often I use them (the favorites) by areas of the closet from favorite/most frequently used to least. Then there is one section for larger size bags/totes as I rarely/don't often wear large bags.
Within each group/area, they're sub-grouped by size and color (darkest to lightest).
Then there are storage bins/open top large cubes at a lower section of the closet that I then put in the bags that are non-premium designer brand bags that are still very high quality and cute/special (for when I want a more low key bags or when there's pouring rain for example). One bin for smaller size bags and clutches, one bin for larger sized ones. These are the bags that are in the closet.
Then there are other large plastic tubs that hold the not frequently used bags pretty much just for storage and however they most effectively fit. These are generally bags that I go to for a specialty shape/color or occasion (e.g. a watermelon straw tote for beach), etc.
Sounds quite complicated but because my most frequently used bags are all organized effectively by sections and they have color photos on the outside, it's actually quite easy as I know which section to "turn" to when I dress and I can see my bags easily as they are on the color photos.