>>45829515I was kinda figuring a new Arceus forme which it wields all the types of creation when I made the post.
To your question though, yes. Each turn the Plate's energy gets used up. So you have access to all 16, but only 1 turn at a time (turn) and only once during the battle, save for Normal. Normally speaking, I do like the idea that finding the plates further rewards you like your idea seems to indicate, so lets add that in for basic Omnipotent Arceus.
I considered having Arceus change the type at random, but that could gimp it really. Letting the player have that choice is more godly, and separates it from the Protean renames in this thread, of which I agree the "Omnitype" anon's idea is pretty nice.