It works responsively on the two devices I am currently able to test on (iPhone and iPad). On the phone the image and the text gets stacked with text below the image, aligned nicely (both portrait and landscape mode), and on the iPad it looks just like on my desktop when in landscape mode and slightly more squeezed together when in portrait (and maybe ever so slightly misaligned). But I totally agree that the option to embed a link in an image in a Media & Text block) is needed.