Depends on what effect you like in a garage and if you crave neat and clean or clutter doesn't bother you. We just got our final inspection on our three car build yesterday and are now in the outfitting stage. I like neat and clean and am not fond of pegboard tool racks, open shelves to display all the necessary things we all need and general "stuff" hanging all over the walls. Therefore, I chose to go with closed cabinets. However, I am an antique car hobbiest and not someone who works daily on bigger and generally messy projects like full restorations, engine/transmission rebuilds etc.
I have two friends who have large garage/shops. One has a pristine three car garage, neat and clean with everything in its place. Even has carpet runners between the cars. He builds cars from the ground up and they are supurb. The other guy does total restorations on mostly muscle cars and the cars he turns out are flawless. However, his shop is a disaster with clutter everywhere and no work surface left without something on it. Plus, everything is filthy with dust from sanding covering everything. But, he knows where everything is and loves working in his shop.
So, what you choose to do in your garage is totally up to you and what you like and are comfortable with. It doesn't matter what anyone else on the forum thinks about what you shoud do.
Glen