I like both. Interestingly, my two favourite genres differ completely on the matter. One is Classical music - mainly piano pieces, with the occasional symphony. These have no lyrics whatsoever, and are stunningly beautiful.
My other favourite (or should that be favoured?) genre is Hip-Hop, preferably pre-2002. As I'm sure you all know (although I'll be damned if most of you don't generalise massively about this)[footnote]Ironic.[/footnote], Hip-Hop relies mainly on lyrics - and the backing tracks are less musical for the sake of it. Now, that's not to say that making Hip-Hop beats doesn't take skill - but diverging this already fairly convoluted post down that train of thought would be straying from the point.
Which is, come to think of it, that either is fine. There is a time and a place for lyrics, and there is a time and a place for...well, as Mendelssohn would call them, songs without words.