Yes and no.
Canvas like that swag is warmer and tougher, so it’ll survive more abuse and keep you warmer, and if you look after it, you’ll still be using it in 20 years.
I love my swag.

So, where are you getting changed? Where are you putting your boots when you climb in at night? Are they joining you in the swag?
I carry a thick shopping bag so that I can wrap up my clothes and boots etc and keep them out of the weather yet outside the swag.
This involves me clambering into my swag in just by underwear, more than once whilst it was starting to rain. 🤷‍♂️
A tent on the other hand, you can get changed, in the dry, out of the wind, bundle everything up in the corner…

There’s trade off’s here.
But it sounds like you already want a swag, and I’m not going to try to talk you out of a good life choice.