I'm in a similar situation to
@Ugly Bunny and I agree with his logic here. You can get to a point where you create presets for all of your songs, but you should start by getting comfortable making and tweaking a couple of presets that cover most of your needs. I would start by figuring out what amps you need. If you only need 2-4 models, you could easily get away with a single, perhaps 2 base presets. If you need 6-8, then you might need 3 or 4. I break amps down into categories and try to stick to 1-2 models to cover that category for all of our songs. For "Cleans" I use a Band Master and a Deluxe Reverb, for Chime I use the AC20, for Crunch/Rhythm I use a Dirty Shirley, and for high gain/lead I use the FAS Brown and the Cornfed amps. Add a drive pedal in front of each that works well and you have a super versatile tone base.
Then add your ESSENTIAL effects - ones that you use for most of your songs. For me, that chain is VOL - COMP - DRIVE - AMP - CAB - CHOR - PEQ (for tone shaping) - VOL2 (for footswitchable volume boost) - DELAY - PLXDLY (for reverb mostly, shimmer on a couple tunes).
Once you have those base presets created, then you can use them as a template to create one-offs for songs that need specific effects. For example, I only use a flanger for a single song (All Over You by Live) so I have a preset that is almost identical to the base, but with a Flanger instead of the Chorus.
If you eventually want to go down the rabbit hole of building presets for every song, you certainly can. I would make sure you save your amp and cab settings as favorites within your blocks so that you can easily update them and cut and paste to all songs after firmware updates. This is where having too many amps that you use can get you in trouble. Every time a major firmware update comes out (and man, has that been often recently), you will have to make minor tweaks to all of your amp settings. If you only use 4-5 amps total, that is only 4-5 amps you have to tweak, save, and then paste to get all of your presets updated. I would do the same with compressor, drive, and any other effects that have an impact on your gain staging. The bottom line is, the more you keep it simple, the less you will have to tweak with updates.
The last thing I'll add is more personal philosophy so take it with a grain of salt: We are all tone snobs to a degree - or at least "tone obsessives". That is why we shell out the money for high quality gear like this. But most of the audience is not - they want the energy, not the exact tones. So, don't feel the need to copy every sound from every album down to the last detail. Find a few core amps, get to know them, use them, and focus on your playing. It is so easy to get lost in the vast number of amps and settings on this device. I have done it many times and I generally find myself coming right back to the amp models that I have always loved and been drawn to. Best of luck!
