I think a tent is worth having for any number of reasons.

This tent below, I purchased a few years for the princely sum of $14.99 at an end of summer camping closeout sale.
Considering it's cheap price (originally $29.99) it is a durable tent and the only mods that have been done is reinforcing a few stiches in some stress areas and giving it the occasional spray of silcone waterproofing.

I have used this tent alot for solo overnight hikes and consider it a step up from the bivy bag shelters and the bigger tent that is taken when the G/F is along for the hike. As you can see, there is not a lot of legroom inside. I am 5'9" and have to slightly curl my legs in order to fit in laying down. Still the tent is not uncomfortable and I have no problems getting a good nights sleep in it.

The tent weighs less 2-1/2 lbs and many times we also take the tent on multi-dy hikes and use it as pack storage if we encounter the typical shoulder season and inclement rainy PNW weather. The tent stays dry thanks to a small sheet of plastic that is used as a rain fly.

Although I don't foree an E&E situation anytime soon and if by chance I did find myself in that type of situation, I would ensure that this tent was on my go gear list.