I don't buy into the "one or the other" syndrome. I have used and continue to use tarps, tents, and hammocks in different situations. For no bugs, super light trips I take a tarp. For trips with my family I usually take a tent as it is significantly lighter for me than putting all of us in hammocks. (I'm the pack mule for the family). For winter trips in Minnesota I go with a tent or even build an igloo if we aren't moving every day. For a good nights sleep, a dry spot to store gear or cook, a comfy chair, and just plain coolness I take a hammock. For all three I keep tweaking, looking for the best combination of gear that gives me a light load and a comfortable nights sleep.
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If I wouldn't eat it at home, why would I want to eat it on the trail?