It could be done right, but it would have to be done RIGHT. That's all I'm saying.
Sound production is serious business, and a difficult job. Just a few things you need for it to be effectively better than text on screen:
Good recording quality (none of that crackly laptop microphone stuff)
Believable voice actors (that sound like they're actually interacting rather than reading off a screen)
with
Distinct voices (if Chrono, Dalton, and Magus all sound the same, why bother casting different people at all? (Or Ayla, Marle, Lucca, Leene))
Pronunciation consensus (It should be uniform and agreed upon by majority of cast IMO)
Natural sounding dialogue (Witty writing helps, but ultimately this is a teamwork issue between actors and writer)
If it can be done, it should be done well.