Azure blob storage container vs VM managed disk for SQL on Azure VM database files
The biggest advantage of putting the database files on page blobs is for very large databases is you can use File-Snapshot Backups for Database Files in Azure.  But it's a more advanced and somewhat more tricky feature than using Azure Disks, which are very simple and user-friendly.  

So the basic guidance is to use Azure Disks, unless you have a scenario where you really need to avoid creating a copy of the data for backups, or restoring as a size-of-data operation.  Note that for HA/DR using regular backup to URL or managed backup to Azure Blob storage is also much more useful than file snapshot backups, as you get Lifecycle Management, multi-region support, soft delete, and all the other features of blob storage of your backups.  

And Azure Disks support things like Azure Backup and Azure Site Recovery, so they are compatible with enterprise-wide BC/DR solutions.  If you store your databases directly on blobs, or in Azure Premium Files the data is not automatically associated with your VM from a infrastructure, management, and monitoring POV.