I just built a mantel, a coffee table, and some cabinets from some walnut. I cut the tree and took it to the mill. Just realize that it will take a long time to dry, it won't dry straight, and it takes a lot of time to work the wood into what you want. Fortunately, walnut is pretty forgiving and somewhat flexible. My 2.5" slab of walnut for the mantel was twisted by over an inch, but it complied easily with a couple screws when I installed it.
Being a theater tech director, I'm used to building things that LOOK like something wonderful, but they're actually shine-ola. I built this kitchen table with pine/plywood, then faced the top with 3/8" real bamboo flooring planks and got some oak edge veneer to finish it off. Looks like a bamboo table, but it cost me next to nothing. The Bamboo was a discontinued Home Depot clearance item and I got a box of X square feet for something like $15. The pine was scraps from the shop.
Kreg jig is nearly a must. This coffee table is assembled entirely with Kreg screws and wood glue and I could dance my 220-lb ass on it and it wouldn't break.
For something like the table you showed, you are not limited by the wood species on the bottom because it is painted. Just experimenting with woods is a good thing to do. For instance, using oak for the frame of that table would be strong, but it would also be heavy, and oak doesn't take paint well. Pine would be weak, and no matter how many coats of paint you put on it, the sap will bleed through at every knot. Poplar would be a good choice as it takes paint very well, it's a bit stronger than pine, and easy to work with. If I were attacking a project like the table you showed, I would assemble a framework using poplar 5/4 x 4" and run at least two center stringers along the long direction along with the two outside stringers. Close off the ends with the same. Use some of the poplar to make diagonal corner braces so the legs have some integrity. For the top you could do something like 1/2" ply and face it with something like flooring planks or just go straight to 3/4" boards of whatever you want.
A little secret I have found is that I prefer shine-ola sometimes. The walnut cabinets I built specifically to flank the fireplace and house my A/V stuff, but I had limited space to work with. For that reason, I'm using lauan side panels with a walnut veneer. That way, the sides are only occupying 1/8" instead of 3/4" of walnut. Sure, I could have planed down walnut, but then 80% of my lovely stock is now sawdust. Not only did I save more walnut for other projects (like the cabinet doors), I saved an inch or so on the width of the cabinets allowing them to fit in the space I had and still have enough room for the A/V receiver. Another reason I often like shine-ola is overall strength. The shelves in my walnut cabinets are plywood with veneer. Plywood is stronger, less likely to warp, and I could use less shelf thickness to support the span/weight of books and electronics. It's also going to be hidden with books... and electronics.... and a door with stained glass.
Cost is also a thing for me. I can put a veneer on edges of plywood and unless you really dig into it, no one will know the difference.