Floating text as implemented will display 'above' any object that would otherwise obscure it.
This causes a problem on the mainland where a neighbor is able accidentally or otherwise to 'visually encroach' on your land by having an object with floating text near their parcel border.
This in turn can reduce the land value of said land as it affects enjoyment.
I propose simply letting objects obscure floating text so it is less visibly disruptive in the case a neighbor places floating text near the parcel border.