I could not agree more on this topic. The issue has been debated a lot in the past undoubtedly, however SE has made it clear so far they have no plans to add this. Their only reason is that it is not technically possible for them to implement this currently. Which I find ironic and untrue considering that NPCs already use chat bubbles in-game.

The arguing points that some have tried to use in the past is that they 'don't want the spam' or that they feel it is too system resource demanding.

First, anyone who has ever played any mmo with chat bubbles as an option should know that it has always been an option that can be toggled off. Therefore, the idea of too much spam is unfounded.

Second, as far as system resource demands go, chat bubbles use no shading, textures or 3d generating models. Therefore again, this claim is unfounded as well.

IMO, overall it all comes down to time that the devs have to implement the feature. Not that it is difficult or undesired by many, but simply that SE has a lot of other features to handle first. I think ultimately if we keep reminding SE about the topic, it will get added in the end.