No and yes. The text object specifically is not an html element, it is rendered in the game engine so it cannot have CSS applied to it.
However, you can use CSS to style all the "form control" objects, including the new html element, button, or text input, to look pretty much however you want, so they don't need to look like or serve their original purpose. I used to use text input the most for this, but the new html element in the latest beta would probably be most suitable.
Note that html elements always float above the game, so you won't be able to take advantage of blending modes, effects, and layers with them. There is also the minor possibility of rendering differences between browsers and platforms, although I haven't run into one of those cases for years now.