I have never had a great experience with OLED on larger screens, whether monitors or laptops. In smartphones, OLED burn-in is much less of a practical concern because of pixel-shifting and other mitigation done by the OS. The use of phone is mostly switching between apps, watching videos, texting, and making calls, rather than displaying the same text for hours so that makes sense. I still prefer IPS LCD for monitors and laptops because text looks crisper, which matters if you spend hours reading or working. OLED makes more sense to me for watching movies and other video content. In my opinion, Apple did it correctly, MacBook uses a Mini-LED backlit LCD, so you get a quality display with HDR while also having sharp text, and you don't have to worry about burn-in issues. There is MicroLED[1], which promises to combine OLED-like blacks and response with better longevity by avoiding screen burn-in issues. At the moment, it seems no major manufacturers are providing it because of cost and other factors.
The issue with text on OLED panels is typically due to the sub pixel layout, they tend to use different sub pixel layouts to traditional monitors which causes issues with subpixel rendering and can make text look blurry or have color fringing.
However, recently you can now get OLED panels from LG with RGB stripe sub pixel layouts (matching traditional monitors) which eliminates this problem and text should be just as good as an non-OLED display.
I have many criticisms of Apple and their hardware, but the Mini-LED screen on the M1 MBP I had at a previous job was stunning. I was in the market was a Mini-LED monitor last year and ended up settling with an IPS LCD in the end due to the lack of premium high-refresh 1440p options at the time.
Yes, the rumours of an upcoming MacBook Pro switching to OLED fill me with dread.