The company i work for now does traditional IP CAM+NVR systems. We use HIK and now LILIN. I dont see any major pros/cons of one vs the other. We pair that with a Doorbird Doorbell.

My next house will have a combination of the traditional systems and the app based systems. I like the idea of having lots of IP cameras for always on recording while also having the convenience of Ring (or similar) notifying me at entry points (door bells/motion light cams).