You're describing wainscoting ... it's existed for a long time, but it's still used today and it doesn't have a certain time period associated with it in general.

In what room does this wall reside? How do you plan on styling said room? What style is the house? More information is needed to give suggestion for wall treatment.

That is basically wainscoting . Is this planned for the whole living space ? IMO it will make the wall seem shorter and unless you are going to put it somehwere else in the home I would not bother. BTW real ship lap is not something you would want in your home . This is just boards put together or maybe even bead board.

It is similar to wainscot but we’re using the shiplap boards - the intention was to place it all around the living room..I do live by the beach . Installing the shiplap horizontally would be ideal but I’m afraid it would be too much given that the wall is so big and long..a seam joining the two boards would show ..

I like how it is like wainscoting, but with much wider boards. that photo you posted above would be very charming for a beach house!

I also think a paneling like this could be good too. I love how in photo #1, it's being used as a picture shelf: