The easiest way to answer this question is: give it a go. In fact, you can do it right now in many instances by using a text size of "-2".
https://www.b4x.com/android/forum/t...pending-on-a-views-content.75533/#post-479335
The main problem is that you end up with something that looks like an early-desktop-publishing-era font explosion, where every text on the screen is a different (but perfectly-fitted ;-) size, usually with a grotesque outlier or two. Or if you set the font size and vary the container to suit, then you end up with eg: "randomly" sized buttons, and with the most-commonly-used "Ok" button being smaller than the "Cancel" button, which is usually the opposite of what you want from a usability perspective.
And then of course you have the annoying zooming-in-and-out out-of-focus sensation of text that varies, eg, if you are displaying names from a database, and you move from Jon's record to Jonathan's record.
I can't think of even one situation where it would be OK to display cut-off text to the user.
We've been cutting off text for display since the year dot, yet survived OK. We call it
scrolling. But I can understand this example wouldn't have immediately sprung to mind, given its ubiquity.
Righto, having said all that: you can get pretty close, though. I've never been able to get the AutoScale+Anchors to do precisely what I need, and I'm too lazy to use the non-visual designer scripts, so I wrote a routine that I thought would solve all my problems, and it works pretty well, except... every new use of it seems to require a new special option to handle some new not-quite-right rendering. One thing that helped was applying the fits to groups of objects, eg, saying that "all these buttons should use the same size text" rather than fitting to each button individually and having different size text in each button.
Anyway, try the -2 trick, that's an easy way to dip your toe into the game.