You’re on this forum and asking good questions. I would say you have some level of technical experience.
IMHO, here is a good starting point.
If what you intend is a pretty much set and forget system (vast majority of WiFi users), simply install Asuswrt-merlin and enjoy stability. Once in a while, login to the router and see if there are any firmware updates - needed mostly for the various security patches.
If you do want to “explore” more features/functions I would recommend you use the built in AMTM, plug in an SSD drive and install Entware. Once done, I would recommend the following 2 addons -
1) scmerlin - a good way to restart services you might need to restart and monitor deeper programs running, memory/storage usage.
2) BACKUPMON - If you plan on adding other addons, maybe do some scripting on your own, tinker - this addon with save you (usually from yourself). It has bailed me out more than once as I “tinker”.
I would let the router run a few days - hopefully stable and allow BACKUPMON to create a few backups.
Then, as the say, the world is your oyster! Lots of useful and practical addons that enhance some router functions (i.e ntpMerlin, YazDHCP, spdMerlin to name a few), some add major functions (Diversion, Scribe, Unbound, etc.).
As others have said, it’s really what you want to “add” in terms of additional features.
Follow the links in the Addon Software Catalog and explore!