did you zoom out https://support.mozilla.org/en-US/kb/zoom-and-out-websites-firefox-mobile?esab=a&s=Zoom+Level+Android&r=4&as=s

No its not zoomed out. Also pinch zoom doesn't even work nor does double tap zoom.

Try empyting all cache etc through the Android options menu.

Could you provide a screenshot?

The size of text by default is under the control of the website.

The font size setting in Firefox only applies to increasing the size of text on Desktop style websites. Mobile style websites do not get the text size increased.

As suggested above using pinch zooming and/or double tap to zoom is recommended on sites that allow it.

For many articles Firefox is able to find the main body of text and provide a Reading Mode format. This will allow you to increase the font size. You can read how to use the Reader Mode feature at https://support.mozilla.org/en-US/kb/how-enable-reader-mode-firefox-android?redirectlocale=en-US&redirectslug=How+to+enable+Reader+Mode+in+Firefox+for+Android