Oh, I didn’t know it used to have direct editing!
My original proposal was about improving the scaling in the popup, but WYSIWYG editing would also fix the issue so maybe that would deserve its own proposal. It seems that features like word wrap, text fit shape (does it include auto-resize?), and even smart speech bubbles are in discussion according to Text box is awful, although it’s not clear whether they intend to restore WYSIWYG editing.