an issue I have had with peg and hook tool boards is marking tool locations (especially as many peg boards are blue or silver i.e. not ideal for marking with a pen)
not a problem for “home use” but in a bike workshop you can go away for your days off, and come back to find several tools missing (borrowed by over enthusiastic shop staff who should know better…or quickly borrowed by a fellow mechanic and not replaced)
it can be hard working out what is missing, and where the missing items go when retrieved
the beauty of the shadow board is the instant visual identification, I can come into work, and immediately realise someone has borrowed my stanley knife, scissors and 15mm ring spanner, and go about finding them and putting them back in the right place.