do I need to get all those basic types of holders to cover all the cutting types
In a perfect world, with a bottomless bank account, buy 'em all
In the real world, which includes both home shops & busy commercial shops, you'll often see just a small handful of holders for any one machine.
If you think about most of the cuts you make, they are made from right to left - with the cutter traveling toward the chuck. Cutting toward the chuck puts the headstock bearings in compression, eliminates any bearing play on a worn machine, and provides the most stable cut. The type of holder is referred to as "right hand", as the cut starts on the right side of the part. It's used for profiling & turning to a shoulder located on the left side of the part.
For facing solids, you'll need a left hand holder, as solid facing cuts are made toward centerline. For facing tubes like a flashlight, either right hand or left hand is fine.
The left hand holder is needed when turning to a shoulder located on the right side of the part.
I find that grooving tools are often used. Straight tools can cut O-ring grooves, as well as flute heads & bodies. Right angle tools are used
for internal grooving.
There are all sorts of variations on the basic left & right hand holders, & you may have to buy (or modify) additional holders for special jobs. But one left & one right will get you started & do 90% of the jobs that come up.