The file system is better for storing files, in general terms. Storing the Path / Filename in the database to enable the file to be retrieved.
There is more effort retrieving a file from the DB rather than the OS
Databases that include files cause Backups to be bloated - technology for backing up files less frequently - i.e. when they change, or on a rotational basis so that they are sure to be backed up periodically, but not every time - is very mature.
Files stored in the database are rarely cached downstream, unlike files stored in the OS (this refers to web delivery)
If you have a need to regularly copy the database AND files to other locations then a one-stop-solution of storing the images in the DB may make the publication process easier.
For some security issues (only certain users have access to certain files) storing files in the DB can help