The Text block is a block that can contain Rich Text.
By default the HTML tag name span is used, but it can be changed using the Element type block controls:
The block is very basic and similar to the core/paragraph block except you can customize the tag name and attributes. Use it whenever the core Paragraph block is not appropriate.
In combination with a custom tag name, custom attributes and any Tailwind classes, the Text block can be used to create almost anything you could normally write manually in plain HTML.