Implement a slideshow-like frontpage with text overlays

You could look into a plugin that let’s you add slides from backend (eg. Slider Revolution) and then you simply add the slider shortcode in a “Home” page, that you set as the front page through Settings > Reading, or run the slideshow from your index.php or header.php, depending how/where you want it.

Or you could use a Javascript slider library (eg. Swiper), enqueue the necessary files from your functions.php, then create a custom post type “Slides” (eg. with a plugin like Types) where each “slide” post is a slide. Then you would build a query in index.php or header.php, that pulls each slides, like posts, and displays them with the structure needed for the library to work.