There is no simple answer to this question, which is why Nitro offers both options.
Photos organizes R+J as a single “item” which is good and bad (you can’t split the two pieces apart, but you don’t have both images cluttering the grid, etc.)
Even if you don’t use iCloud, there is value in using Photos. You can access the library with multiple apps. If one day, there is enough storage in the cloud, you can use iCloud syncing. you can mix and match editors. You can make albums, etc. If you use the file system, you have full control over storage (where it is and you can split across drives).