A lot of the time when I'm working on a clients cover art, I ask them whether they'll need text. The truth is, the requirements of cover art is changing fast. Back in 2006, text on a cover was a need so that people knew what a single or album was. These days, projects are almost always digital. This means your project will be on platforms like iTunes or Spotify which show these details.
It's important to grasp that artwork has went from a 5 inch CD sleeve to a small area of a desktop screen, or mobile. This dramatic size reduction means you have much less to work with. It's less about pixels or inches and more how big it looks when viewed. A billboard could be giant, but in the human view would be about the same size as a TV.
A designer should focus on the fact that their work will be much smaller than before and adapt to this. It doesn't mean you should only make minimal design or covers without text; you should be aware of it though. Otherwise, your cover might miss the mark.