QR codes are fine.
What is varying quality is the menus served by the links in QR codes. Some can be great, some can be terrible, and everything in between. Same thing with paper menus, except they are also bulky.
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This isn't a given. Places could design better instead of designing for paper and then just putting that online. But I still strongly prefer not to have to take out phone when with people.
A good menu generator, with competent web layout, readable, zoomable, searchable. Results may be hosted or sent as a bunch of static files.
The menu SPA page collects patrons' choices and forms a nice order for the waiter, as a text and as a QR code.
Flat monthly rate for up to 200 menu updates a day, effectively unlimited but preventing abuse. A small flat fee for serving the menus online and generation of the QR code. One-time fee for each piece of personalization / branding work beyond the standard templates.
Looks like a perfect side project for a couple of weekends, and then incessant low-intensity marketing efforts.