I've done both as well, tagging everything and then assigning the tags into exclusive hierarchical relationships (for discovery purposes and grouping), but it only works to subdivide within an existing noun like "talent" or "wood panels", without a seed noun tags start becoming too abstract and the object with those tags start to lose all semantic cohesion.

I think once you start talking about unbounded universal tagging with hierarchies, they are not compatible, you need search and weighting or intelligent interfaces.

Search and LLMs really are major organizational improvements in our lifetime imo.