In addition, aria labels don't work reliably with some HTML elements [1]. Specifically, the example from SO (div) will not work in some screen readers.
[1] https://www.tpgi.com/short-note-on-aria-label-aria-labelledb...
[1] https://www.tpgi.com/short-note-on-aria-label-aria-labelledb...
Note that the very SO thread you linked to goes immediately to doing position/clipping tricks right after mentioning aria-label.