There are definitely ways to do it wrong, but also many ways to get a good looking guitar or bass. So there certainly isn't just one way to do it 'right'. If you read through some of the build diaries on here, people have finished guitars in very strange ways. Most have worked, a few have half-worked (in my opinion) and a couple have failed. And commercially, a lot of makers are moving away from the full smooth gloss finish for every guitar and embracing a lot of other finish options.

The primary function of a build for yourself is to end up with a playable instrument that sounds good and feels good to play. But the level and type of finish is totally up to you. If you think you might make some more kits, then you could try some other finishes out.

And you can almost always go and strip a finish off a guitar/bass and start again if you want to. I have. It's hard work, but getting a much better finish the 2nd (or 3rd) time around is very rewarding.