Graph neural networks have triggered a resurgence of graph-based text classification methods, defining today's state of the art. We show that a wide multi-layer perceptron (MLP) using a Bag-of-Words (BoW) outperforms the recent graph-based models TextGCN and HeteGCN in an inductive text classification setting and is comparable with HyperGAT. Moreover, we fine-tune a sequence-based BERT and a lightweight DistilBERT model, which both outperform all state-of-the-art models. These results question the importance of synthetic graphs used in modern text classifiers. In terms of efficiency, DistilBERT is still twice as large as our BoW-based wide MLP, while graph-based models like TextGCN require setting up an $\mathcal{O}(N^2)$ graph, where $N$ is the vocabulary plus corpus size. Finally, since Transformers need to compute $\mathcal{O}(L^2)$ attention weights with sequence length $L$, the MLP models show higher training and inference speeds on datasets with long sequences.