The simple answer is: No.
The more complex answer is: It depends
If you are planning a large scale setup with many users, see the replys from @tflidd and @devnull
If this is for personal / home usage, which most likely means that you want to use it as a media server, I would answer: You can do it, but I wouldn’t recommend it. Nextcloud is not very good when it comes to handle and playing large media collections. And it’s also not desinged to serve data to other apps unless these apps can connect to your Nextcloud via WebDAV. I would recommend you to separate these things. Use Nextcloud like you would use M365 or Google Workspace and use someting else like Plex or Jellyfin to handle your media files. You won’t be happy otherwise…