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PixiEditor 2.0 - a FOSS Universal 2D Graphics Editor is here
(pixieditor.net)
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You are right, I don’t use it for text. Is that something illustrator does? Coming from inkscape I missed a lot of features in illustrator (university pays for the license). And as I stopped using After Effects the only reason to use it was gone.
Yes, Illustrator is much better at managing text (less that InDesign of course, but still good for simpler designs). In Inkscape's defense, many of the limitations are imposed by the SVG standard. I think paragraphs are one of them.