There is sometimes a general idea that granular stone is applied like mulch. One should think of its application being more like concrete installation. It needs edging (like form work) to keep it in place and one must consider grading and drainage. It's heavy and it's difficult to rearrange if the need should occur later. Only certain materials work well for walking on. (It is not necessarily difficult to blow dry leaves off of DG or other finely packed gravel. But neither is it especially conducive to being used below trees with heavy leaf drop.) And there's a greater cost to it than a wood based mulch, which might be a friendlier material to use over the long haul.

Indoor/outdoor carpet pinned down over a smooth, firm surface works well for walking on at an outdoor party.

It takes time to prepare a yard so start as early as possible.

Seems to me it would be so much easier to simply improve the grass. Water it, feed it, mow and edge it regularly. Get rid of the weeds along the fences, plant some seasonal flowers, maybe "rent" some potted plants from a big box store with a generous return policy.

When is the event? How many guests?

Seems like pavers would be a good compromise. However it is more costly.

When I am wearing pumps I do not want to walk through gravel.

same for me about the pumps & gravel :-)