We made text strips to make it easier to deal with large blocks of text and to make scrolls more responsive on different devices. If you're laying out a standard article that has a lot of long blocks of text, it's much easier to use text strips for those sections, and regular (canvas) strips for your pretty headers/images/animated sections.

Here are some differences:

• text on text strips will be automatically resized on mobile so that it's more readable, and so that words are never cut off on the right or left
• you can only drop a few objects on a text strip, that will either float to the left or the right. But the text will then flow naturally around these objects
• you can set a max-width on text strips (by pulling on the blue vertical lines), so the text will never get wider than that, but it can get narrower
• text strips have an automatic height, whereas you can set the height for regular (canvas) strips. And yes, they do have a minimum height.
• you can't draw on text strips
• you can't add parallax scrolling effects to text strips