I don't see how to do it either; it's very far from anything VPython is capable of, and it would require an enormous amount of work to add that effect. That's why I quoted the documentation on what's possible.
However, I can imagine you finding an image somewhere that has at least some major place names on it, so that as you zoom in closer you see the names get bigger.
I guess there's one other thing you could do, which is to display the existing textures.earth (or similar texture) and add your own 3D text objects to it, either with fixed sizes or sizes that you increase as you move the camera toward the map.
Bruce