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Thank you for posting this idea. I assume you are just referring to the Annotation text rather than the Insert Text tool provided in the Utilities ribbon as that is completely free for you to place whatever text you want anywhere on the graphics window.
For the annotation the positioning of the label is tied to the model which is free to rotate in 3D space. It would mean that without being tied to the key point of that data the annotation would become meaningless unless it was given as a user option to disconnect the annotation from the data. That is unless you might suggest what rule should be observed by the text as the model is moved and rotated?