I'm going to hold my ignorance up as a trophy here.
I've taken music theory classes and trained a little on sight reading. I understand the mechanics of proper notation, and if I spend enough time with something I can figure it out.
OK, great. Now what?
If I actually learned to read music perfectly, what does it get me? I will never play piano or do anything with a guitar beyond noodling, so the idea behind it helping me with other instruments is useless.
Professionally, I only play original work. I've NEVER been in a rock band where the music is written in standard notation. 99% of the time the writer just has it in his head and I write tabs out while he is showing me.
If I want to learn a cover for whatever reason I don't have to spend a nickle. I just fire up Google and Spotify or Windows Media Player and follow along with the tab a few times before I start playing. Only the very smallest amount of music is available in printed notation (especially for bass), so I can't learn much of anything from sheet music.
"Learn it by ear."
That ain't happening. With the density of modern recordings and complexity of modern rock, picking the bass out and getting it all right is a tall order. Again, why bother wasting the time guessing when someone else has done most of the guess work for me. There isn't an award for that or anything.
So, is tablature bad? Nope. I got places to go, people to see, $#!+ to do, and tabs get me where I need to be. Its a tool. That's it.