Adding HTML Label to a FORM element this way..

I need a small clarification for adding element in a Form class, generally becasue I still trying to wrap my head around OOP...

We can declare element in form in two ways :

class SomeForm extends Form
{

    public function initialize($entity = null, $options = null)
    {

     #First Way
        $name = new Text('name', [
            'placeholder' => 'Name',
            'otherProperty' => 'Property'
        ]);

        $name->setLabel('Name');

        $this->add($name);

        #Second Way
             $this->add(new Text('name', [
            'placeholder' => 'Name',
            'otherProperty' => 'Property'
        ]));
   }
}

I understand that first one is more flexible while second one is shorter. My question is that can we add HTML Label to element in "second way" ?