Speaking as a custom framer (what I do during the day), I can say that there are untold thousands of frame designs available. Countless profiles (shapes), countless finishes; closed corner vs. mitered; different price points, vendors; it goes on and on.
When I work with my customers, I balance a number of concerns: where will it hang? Why is it being framed? What compliments the art? What's the budget? etc.
Design rules are very similar to those an artist use to determine color use, values and composition in making art. Same principles, different applications. Ideally, the framing matches the art, drawing attention to the art and not to itself.
Given those considerations, the sky's the limit as to what will work. There's a wonderful book about this subject that I highly recommend: Guidelines For "Great Frame Design" by by Greg Perkins: https://www.amazon.com/gp/product/09...KIKX0DER&psc=1