What role does the PEAR package Image_Text play in creating online graphics with dynamic text in PHP?

The PEAR package Image_Text allows developers to easily create online graphics with dynamic text in PHP. This package provides a simple way to add text to images, customize the font, size, color, and alignment of the text, and generate images with dynamic text content on the fly.

<?php
require_once 'Image/Text.php';

$image = Image_Text::factory('GD', array(
    'width' => 400,
    'height' => 200
));

$image->setFont('./path/to/font.ttf');
$image->setText('Hello, World!');
$image->setAlign('center');
$image->setFontSize(20);
$image->setColor('#000000');

$image->draw();
$image->save('./path/to/output/image.png');