The text section is the most fundamental section and also the most flexible. However, avoid overusing it. In particular, the text section is not a place to put large sets of values. Even if you only have a 2x2 table of values, you should use the dedicated table/spreadsheet object for this. This allows you to e.g. do statistical tests on the data later.
The formatting options have been limited to allow the text to be reformatted, as it suits, for different devices - in particular small phones and tablets. Thus there are a set of headings and plain text, and these should be your primary mean of formatting headers and text.
You can insert special types such as GPS coordinates, counts of objects, dates and durations in the section menu. By double-clicking on the value you can open the dedicated view for it, or in case of citations, open the article also in other programs.