It was not very subtext, it was very explicit that Tyrone was head over heels about Tandy, who only saw him as a friend and companion and necessity (they literally can't live without each other, the way their powers are linked). It actually annoyed me greatly because they kept it going for far too long which really hurt Cloak's character. I was always like, sheesh, either make them a couple or have Cloak get over his crush.
I am not up-to-date with the latest developments, most recent I have read is the Spider-Island (2014) miniseries, where it is made very clear that Cloak & Dagger are not a couple. I think the TV show portrayed them as a couple?
It was bit more than that, Spider-Man even listed her amongst the 'women of his life':
Attachment 100977
And of course later on, it did get kinda sketchy:
Dagger was always described as exceptionally beautiful (even by superhero-world standards), with lots of guys being smitten about her or developing dangerous obsessions.