It is true what they say, you get what you pay for, and in the case of tents, nothing is more true. You can get $80 tents at your local discount store or spend thousands on a new Lotus Belle or ShiftPod tent.
While that cheap tent might do just fine on your annual camping trip, it won't hold up in 80 mph (130km/h) winds, and it won't withstand the dust storms either. I've been to the burn and watched tents get shredded, poles break, and entire setups blow away in the wrong conditions.
Of course, I know people who get by in little tents, but I don't recommend it. Instead, I suggest you invest in a strong canvas tent or something similar that will withstand the elements and provide you with some comfort for your week on the playa.