Theres literally never anything usefull in it, right now as im typing this people are telling each other to commit suicide and calling people beta cucks.

Verdun has this option and when i turned it on, my immersion got like ten times better.

Yeah thats not a bad idea !
Being able to turn text chat off makes the game more immersive.

But on the other side it is a way to tell people that they are shooting at teammates ( which is shown in that text chat ).
And people who are dead can communicate to each other via text chat without disturbing others.

bad idea for community servers if admin gives you a command that you should follow than you cant read it. i suggest you just dont look at it

You can mute everyone and you will not see their chat.

I'll reiterate what Sulfur already said. The Mute feature mutes a player's text chat. Mute All cuts off text chat for everyone on the team at the moment you click the button. Neither Mute feature mutes game-generated callouts like the ones for reloading, fire support calls, etc. But you certainly won't have to listen to the garbage you've described.