"""Extract a complete JSON object by counting balanced braces.

This function scans the input text to find the first occurrence of an opening brace '{' and then
iterates through the text to find the corresponding closing brace '}' that balances the braces.
It handles nested JSON objects, escaped characters, and strings within the JSON. If the braces
are not balanced, the function returns the original text.

Args:
    text (str): The input text containing a potential JSON object.

Returns:
    str: The extracted JSON object if the braces are balanced, otherwise the original text.

The function uses a state machine approach to track whether it is inside a string and whether
the next character is escaped. This ensures that braces within strings or escaped characters
do not affect the brace count.
"""