I think it very much depends on specifics. Years and years ago I stored emails as BLOBs in an Informix database for a large webmail system. That turned out to be a bad idea and we ended up migrating (very painfully) millions of emails to a file server.

However I don't think it's universally true this would always be bad. It depends on the speed at which you can insert and fetch blobs from your database, the speed of your NFS server, whether your database or file server can be replicated, and the problems with data integrity you're definitely going to have when not everything is known by the database.

No substitute for careful analysis of individual cases.