I like tents for the solitude and privacy, and certainly for the lack of bugs. Tarps I love for the open views, fresh air and openess. Once I get my hammock midge netting and a decent sleeping bag, it's tarp and hammock all the way. My set up isn't heavy, tarp, hammock, bivi bag, sleeping mat and sleeping bag allows me to set up just about anywhere, or at least anywhere I am like to go.
I'd say, both tarps and tents have their place, it all depends on what you want at the time considered against where you are and what nature is going to be throwing at you.