Prevent flex items from stretching

Sample:

div {
  display: flex;
  height: 200px;
  background: tan;
}
span {
  background: red;
}

<div>
  <span>This is some text.</span>
</div>

I have two questions, please:

1. Why does it basically happen to the span?
2. What is the right approach to prevent it from stretching without affecting other flex items in a flex container?

You don't want to stretch the span in height?
You have the possiblity to affect one or more flex-items to don't stretch the full height of the container.

To affect all flex-items of the container, choose this:
You have to set align-items: flex-start; to div and all flex-items of this container get the height of their content.

div {
  align-items: flex-start;
  background: tan;
  display: flex;
  height: 200px;
}
span {
  background: red;
}

<div>
  <span>This is some text.</span>
</div>

To affect only a single flex-item, choose this:
If you want to unstretch a single flex-item on the container, you have to set align-self: flex-start; to this flex-item. All other flex-items of the container aren't affected.

div {
  display: flex;
  height: 200px;
  background: tan;
}
span.only {
  background: red;
  align-self:flex-start;
}
span {
    background:green;
}

<div>
  <span class="only">This is some text.</span>
  <span>This is more text.</span>
</div>

Why is this happening to the span?
The default value of the property align-items is stretch. This is the reason why the span fill the height of the div.

Difference between baseline and flex-start?
If you have some text on the flex-items, with different font-sizes, you can use the baseline of the first line to place the flex-item vertically. A flex-item with a smaller font-size have some space between the container and itself at top. With flex-start the flex-item will be set to the top of the container (without space).

div {
  align-items: baseline;
  background: tan;
  display: flex;
  height: 200px;
}
span {
  background: red;
}
span.fontsize {
  font-size:2em;
}

<div>
  <span class="fontsize">This is some text.</span>
  <span>This is more text.</span>
</div>

You can find more information about the difference between baseline and flex-start here:
What's the difference between flex-start and baseline?

Sebastian Brosch has already given a great answer. Here's an alternative approach:
margin-bottom: auto

div {
  display: flex;
  height: 200px;
  background: tan;
}

span {
  background: red;
  margin-bottom: auto;
}

<div>
  <span>This is some text.</span>
</div>