We're not currently planning on doing that. For the moment, we are considering media not to be standalone content items but rather resources that content items can add into their bodies.
It would be great to have a community module for a real media gallery and I think a few people are working on something like that. The challenge of course is to maintain the content items in the database and the media files in sync.
So you could go two different ways: you could store the actual media in the database (I don't like that personally as I like hackability and the ability to go into the file system and actually see the media there) or you can do your best to maintain that
synchronization and fail gracefully when you can't.
Another thing to consider is that many (all?) media format already have embedded meta-data. So you also have a choice of actually relying on that entirely, or only extracting it when registering the media and then managing it in the database, or of ignoring
that data entirely and go for proprietary DB storage.