Me too very disappointed with this, as many websites use css and graphic imagery which does not zoom at same ratre as text, and so zooming whole page makes the page go pffscreen. My problem is that as screens get more and more higher pixel counts, the text is getting tiner and tinier. and so on a 2.5 K iMac, despite being a large screen, webpages are tiny text for my eyes to read. whereas zoom text only allows me to leav the page width the same, but increae text size for readability
Safari is also causing lots of buggy things to happen if watching video at same time as looking at another webpage, especially in split screen. It just does not seem to be keeping up with the code in many websites. it wont p[ay videos in websites like cbs and the wall street journal, daily mail etc at all.
But the text to zoom thing as you say, is a very essential tool that has been removed, and should be put back
Having said this, this feature has also disappeared from Firefox too.
I use Safari because i edit blogs, and Safari allows me to use dictation toi speak and type, and also text replacements to fill in reusable phrases with shortcode, whereas i cannot do that in firefox or other browsers.
It makes a big difference ti type 'ippi' and it replaces that with a whole paragraph of pre-written text full of 'I Phone Product Infromation'
Text replacement tool has been a lifesaver for me when having to add texts which are repeatedly added to the same product type in my online store, without having to type it myself or copy and paste from some notepad.
for example, if i type 'WCH', it will become 'Wat Chang Hai Temple in Pattani'
If it were not for this feature, i would have stopped using Safari a year ago, as it is seemingly deprecated with many websites. It is completely deprecated in Windows devices already.