If you mean collecting your own live rock, it's not likely legal to do. I don't know if there are any countries around that still allow for just harvesting of live natural reef substrate, and I don't believe any US collection permits allow for it.
If you mean maricultured live rock that starts as dry, is left in the ocean for a few years, and then shipped to you quickly to preserve the life on it - that's definitely around and I'm generally a fan. You will get bad hitchhikers in every batch, but you will get a huge amount of diversity and beneficial or fascinating hitchhikers.
The caveat being that you still have to deal with the bad ones, so personally, I would recommend some portion of this genuine live rock for smaller tanks, and I wouldn't for large ones. For a 200G, if you wanted true live rock, I would get some and put it in a smaller tank with all the normal flow, lighting, some feeding, etc. for observation, and then when you think you've noticed most of the potential crabs, mantis shrimp, flatworms, or other things, then transfer it to the full sized tank.
I started my E170 (~45g AIO) with 30 pounds of live rock and some dry and I managed to get several xanthid crabs, three smasher type mantis shrimp, a bunch of lightbulb anemones, a polyclad flatworm that ate feather dusters, and a giant collection of beneficial or just interesting stuff... but if my tank was so big that I couldn't have spotted or caught the mantises and other things, it could have turned real bad in trying to remedy. For a 200G my strategy would be maybe 50 pounds of live rock in a sort of quarantine tank for itself, then after a few months in there, moving that rock to some additional dry rock in the display. That way you have a buffer against potentially dangerous hitchhikers and some time to find out what actually came in on it before it's impossible to find and catch.
To be clear, I still would want maricultured live rock in my next presumably larger tank, but I would put it through that process first. I absolutely love the diversity of life my tank has and all the things I'm still discovering growing in as hitchhikers.