Engagement is a key factor for any website.
Images can be very engaging, definitely videos are, but how about text?
I’d suggest a site needs to have a reasonable balance between these elements and burying text out of view (or other elements) is probably going to have some negative effect.
In terms of SEO, text is the main factor that attracts Google search, so burying that text away, hiding all or the majority of it from view from the user is likely to result in a spam-score type penalty, essentially a “we caught you adding text just for SEO” type penalty.
So I think the key is about ensuring your text is visible and useful to the viewer of your page. The job it does for SEO is a bonus.
An outdated SEO trick from the dark ages was to write lots of “SEO text” and hide it in a colour that matched the background so it was invisible to users and didn’t interfere with the “design” aspects of the site.
Another was to place text far off to one side of the page outside the normal screen boundary so that nobody ever saw it.
Businesses small and (very) large have been penalized in the past for using these sorts of techniques. These are now regarded as ‘dirty tricks’ and are very easily discovered by modern search engines, and also very easily revealed as spam techniques, especially by Google.