I had some confusing/unexpected results with a Media & Text block above a paragraph block:

I added a Media & Text block, with an image and text.
I added a Paragraph block below it with text.
I saved and previewed the post.
The result was that the paragraph block was absorbed into the Media & Text block, instead of being a separate paragraph block below it. (This is especially apparent if you vertically align the image to the bottom, so it appears next to the second paragraph.)