Dall-E and its relatives are still pretty awful at text, at least for now. They have a decent idea of how individual letters are shaped, but trying to produce a specific word or phrase is generally pretty hopeless. Dall-E can sometimes correctly reproduce words that appear frequently in its training data, like "PIZZA", but its success rate on less common words is dismally low, especially when they're appearing out of context.

Some pretty convincing examples of this behavior can be seen at: https://twitter.com/JanelleCShane/status/1531624303770279937