I think the flipping is pretty equal between guitars and basses. I was always an equal opportunity flipper.
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From what I've seen, most bassists seem to keep just a couple basses and will buy and sell more often while keeping the number the same, while guitarists will flip less often but keep more guitars. Hardly a rule, but something that is fairly common.
This is how I operate - I think it works well. A core of reliable workhorses + a couple to keep the "new bass" feeling alive.I have my core of very favorites keepers. Then there are foster children which I may keep for a while, then sell off. (talking instruments here, not children).
I agree with the statement that guitarists seem more likely to seize on one particular instrument as THEIRS, their main voice, even if they own others. Still, I've known guitarists with pretty elaborate collections.