World Space Canvas Scaling

This has been causing me a lot of head scratching.
Trying to use it to create text in the world but the rendering seems to be off.
I've got it to rotate properly with a billboard script but the scaling itself seems to be way off.

It seems to have something to do with Dynamic Pixels Per Unit in the Canvas Scaler. But it doesn't seem right that I have to set it to values over 2000 to get it to display 14pt text on the screen without being crazy pixelated or gigantic.

Also changing the text font size doesn't do anything to the size of the text. Only scale & dynamic pixels per unit seem to change the size of the text.

Is there something I don't understand about this?

 

It's completely whacky - same deal with Sprites used on world-space canvasses.