I don't use Library much because all the pictures are in an album. As I had said, if I need need to see all the pictures, I can make a smart album with capture dates between 1500 and present.. Then I have an album in which I can sort, use keywords, and so on--things you can't do so well, or at all, in the Library view.
When I have taken a bunch of pictures, maybe over days or weeks, I grab the new ones and put them in an album, maybe titled "23 04 Around Home" or something like that. By putting year/month/day first, the albums will alphabetize by date, even if I create them out of order. In that new album, I'll "select all" and add the keyword "23 04 Around Home." I'll also add keywords like Flower, Statue, Furniture, Guitar, Dog, Cat, OurPets, Flurry (the name of the current cat), and so on. If I had taken a bunch of pictures of Flurry one day, I might make a separate album titled "23 04 09 Flurry," and add that keyword to those pictures. I may also try to identify Favorites. The hardest part of all is to try to rate the pictures with 1 to 5 stars. It's very valuable, but I put it off a lot.
Using Keyword Manager, keywords can be added with a single keystroke--f for flurry, c for cat, or whatever.
I don't usually throw away (or hide) "bad" pictures, I just label them with a keyword. Remember, there is a filter that you can use for viewing pictures. I don't have to look at all the pictures in an album-- I can just look at the pictures of Flurry, or just the Favorites, or just Favorites of Flurry.
Once I have keywords in place, I can then use a Smart Album to collect all the pictures of my daughter, her daughter, her husband, and their dogs to use for a photo calendar, for instance.
My albums sometimes have very few pictures. More usually it's 20 or 30. Sometimes 300. That's too many, really, so if I'm going back to sort them, maybe to choose favorites, I might make a temporary album with a few that are similar in some way, and I sort a few at a time.
By the way, you don't have to have all your pictures in a single Library. I have a Library of pictures from work, for instance, that I would never need to mix with personal pictures. Well, actually, there are pictures from work that include my wife, and they are in both Libraries. I also have a Library of favorites that I've copied from the main library, and that is the one that is synced to my phone and iPad with iCloud.