We were in danger of drifting into "multiple bands with the same name territory" as things got fragmented.
Ha, I'm currently in "multiple bands with overlapping band members but different names territory" -- but I guess that's the norm.
Related: one of my bands consists of a BL LS plus a rotating cast of characters at guitar, bass, keyboards, drums. Everyone in the band juggles multiple bands, so the BL staffs his gigs based on availability, and tries to divvy up the gigs so that all the A and B team members stay fresh with the material (C tier members are last resort). The setlist varies a little bit depending on who else is sharing lead vocal duties, but usually by a dozen or fewer songs per gig.
I like this arrangement a lot! It's cool to show up at the gig often not knowing who else will be onstage. There are no slouches in the A and B tiers, and it's fun to perform with different musicians. Another nice benefit is networking: recommending each other for sub gigs, side projects, etc. Yet another perk: It's never a problem when I'm unavailable for a particular date, because the BL will simply use one of his other bassists. I've occasionally worked with BLs who got annoyed with my unavailability -- mainly situations where I was the only one in the band juggling multiple bands. I get it, rustling up gigs is hard work, but I always tell them that it's OK with me if they find another bassist willing to commit 100% to that band. That has happened a couple/few times, and it's fine with me because I would never commit 100% to a single band that isn't going to give me 50+ gigs a year, which I do get from juggling.
P.S. Not trying to brag. I'm an experienced old phart who lives in a huge metro area with a serious shortage of bass players.