I don't think it matters how many qualified people are working, but rather the focus is on distance from energized exposed parts being worked on, and boundaries established based on a result from an arc flash hazard analysis. In the analysis, multiple boundaries will be determined and will tell you what level of PPE needs to be worn if you are x inches/feet away from the exposed part and whether you are actually working or just observing, there are boundaries for both.
NFPA 70E is a good place to start learning about this.
Edit to add: If I am just observing and not wearing any PPE, I usually stand 10 ft back.