In inclement weather, I vastly prefer a hammock. Room to sit and enjoy the ride without being hunkered over, the ability to set up and use the stove, a ridge line to lay out wet clothes - I've done it all, in a 14 hour rainstorm, while my friends (I'm not kidding, it was this mixed) were in their bivy, poncho tarp/bivy combo, and tents. Pretty much everyone munched on trail mix while I boiled water and made my meal, and enjoyed it sitting comfortably upright. I didn't have to drag muddy gear in with me, and didn't have any issues with leakage. The next day I packed up dry gear while everyone else put out their bags to hopefully dry out a little of the wet they invited in when trying to get in or out to pee.

In trips where I'm alpine or without the ability to hammock due to other restrictions (some of the parks I've hiked in do not allow hammocks) I take my Lightheart Gear Solo, which works great with my trekking poles.

Sometimes I just take the tarp I use for the hammock, and tarp on the ground.

I wouldn't trust a tyvek tarp if you paid me - I have a tyvek tent, one of the Tarptent Sublites. Fantastic for managing condensation - you won't have any. What you won't have is rain protection if it does more than sprinkle I literally poured gallons out of the bathtub floor after bailing to the car on a trip to the coast. It rained a good 6 inches that night. I sat in the car and waited - the tent filled up with water, and weighed probably 5 lbs after I emptied the floor. Soaked the very fabric of it through.