Even perfectly healthy chicks can sometimes take a day or more to get their feet under them and be up and hopping about. Think how much more difficult it's going to be for a weaker one with its legs taped together! It might take a day to figure out how to stand up without falling on its face, which is probably why its sitting back on its hunkers and not standing up. I hatched a splay legged duckling last week. When I taped its legs it spent most of the first day falling over and lying on its belly with its legs stuck straight out behind it. I picked it up and set it straight a few times and by the end of the second day it was up and bouncing all over the brooder with the other two, and I was able to take its hobble tape off very soon after that...
Edited to add: If you want to redo the tape, you might want to cut a thinner strip, as in cut it lengthwise along the strip of tape before you apply it. The idea is to stop the splaying, without restricting other movement, so the thinner and more pliable the tape, the better. You might also want to tape the chick's legs ever so slightly closer together. But that's just suggestions for slight improvement - what you've done already is good and looks like it should work fine. Just give the chick some time...
