I prefer folders.

Memory, on a biological level, is tied very strongly to place or paths. Not just in humans, not just in mammals.

My folder hierarchy gives me a path that lets me find things. I remember where I put them, I remember where to find them.

If I need to search, fd and rg at a high level of the folder tree is a godsend.

Tags mean it is just floating in some cloud somewhere, locationless.

There can be friction if something could go into multiple categories, and one will always need a wildcard category, but these can be managed.

The Johnny Decimal system https://johnnydecimal.com/ can be a nice structured approach. Creator is here on HN somewhere; that's where I learned about it.