I don't have any direct comparisons of SQLite to this approach, but other projects I've worked on did have a simple directory tree organizing medium size chunks of data by date over 20+ years. We had one "DB" where everything was stored by the degree of latitude and longitude it fell into, and another where things were stored by date. Both were gigabytes in size at a time when that was considered a large data set, and it was very fast to open only what you needed.
Depending on the problem, this can be a very good solution. It was trivially accessible from any programming language (including ones that didn't exist when the DB was started), and it was trivial to migrate to new operating systems (some of this started out on VMS).
I like SQLite quite a bit, but it's not always the best solution to storing tabular/relational data.