The GBC setups I've seen/participated in, have included modules using all kinds of electrical components, but mostly Power Functions (PF) since it's not hard to power those with a 9V train regulator that can easily be attached to the power grid.
Recently I've also seen some Powered Up (PU) controlled modules in an event setup where most modules were PF.
But as you say, PU modules has two methods:
1: PU modules require a nearby Bluetooth device, which gets impractical quickly. Some modules can share a motor, and probably a Bluetooth controller, but I don't foresee the guys I know who have 100+ modules buying 100+ phones/tablets. I also don't know if making several hundred Bluetooth connections within a setup is possible.
OR if the hubs in each module run Pybricks if you don't have the devices.
and 2: The PU modules need a PF to PU adapters to power the modules,
As it is now old parts (the train regulator probably takes the lead) are the best for GBC, but that's only good for a limited time (and mostly for those of us who already have a supply of those parts). But I have no idea what the future for GBC will look like (I fear it will just die due to a lack of recent parts that are usable).
Edit: One of the things I set out to write, but forgot as I got into it: If you intend to exhibit your creations (and GBC modules are boring if not), you should also abide by any local rules your local LUG (or wherever you intend to exhibit) has.
Edit 2: The commenters said the battery box has an expensive price tag of 35 euros but to run the GBC modules with PU motors at full power.