I've got about a hundred knives and around 60 of those get carried and used. Those fall more-or-less into categories--work users, users, light carries, smaller carries, dress or casual carries. Of those that get carried, work users and users get the most time and there's probably a core of a dozen or more that get the bulk of that. I don't have any specified rotation, but do try to get more and different knives into pocket as I go along.
Of those that don't get carried, there are only a few true drawer queens, and they're not necessarily the most expensive, but are those I want to keep pristine as they're unique, irreplaceable, customized, or just too clean to mark up. I have quite a few that fall into collections that don't get carried or carried much, and quite a number of those are not expensive or particularly rare such as my Sages (all 6 versions of the 5 models) or Tenaci (soft spot for that model and have a half-dozen different versions). I do have a few vintage Benchmades that I don't want to beat up, so they just get admired and fondled.
I've cut down quite a bit on knives that don't get carried as I've reached a point where accumulating more seems silly to me. I've only bought 3 or 4 since last June and have sold more than that to fund those and to tighten things up. I've let some go that I thought I never would, and while I miss a couple that aren't replaceable, I also figure I got to hold and enjoy them for some time and now have others instead that I both like and use.