Unless one of the participants has some degree of hard-of-hearing, in which case, being able to see the other person's lip movements is really helpful.
Lots of these tools do real time closed-caption now anyway.
Some people write long emails like reports, other people write very short emails. There is no standard.
The real-time closed captions are gratefully appreciated and much needed from an accessibility standpoint, but they're not perfect. More technical words, accents, etc. all cause difficulties.
If the bandwidth is good and ping time low, video conferencing works very well. You can see and hear when the audio matches the lip movements. It's awful when the audio is not in sync with the video.