Google is adding a text wrapping feature for images to Docs.

When should it be used? Use a Text & Image component whenever you need to wrap text around an image rather than displaying the image inline. It can also be used to overlay a body of text on an image ...

For that to be effective, though, the image should be set as the background. You may also need to increase transparency so it doesn't overpower the text overlay.

Use a Text & Image component whenever you need to wrap text around an image rather than displaying the image inline. It can also be used to overlay a body of text on an image by specifying a CSS class ...