Is a <Block> allowed to have text content not wrapped in <p> tag?

[machty]

I'm trying to get a sense for what's allowed/supposed to go inside a <Block> component; it seems like most of the time, if there is text content in there, the text content is wrapped in a <p> tag, e.g.

<Block>
  <p>
    Lorem ipsum...
  </p>
</Block>

But here there is no <p> tag; should there be one? Does it make a practical difference?