I think the simple reason is there are better tools for working with graphics. Text terminals were great, and are still immensely productive if you are proficient with the command-set. Even in a full-blown word processor, people have trouble laying out text along with graphics. It would simply turn out to be chaotic I fear.
http://poshconsole.codeplex.com/
Windows only - WPF based Powershell console.
I think the simple reason is there are better tools for working with graphics. Text terminals were great, and are still immensely productive if you are proficient with the command-set. Even in a full-blown word processor, people have trouble laying out text along with graphics. It would simply turn out to be chaotic I fear.