Unwrapping an existentially quantified GADT

You really can't avoid a typeclass or equivalent here. unwrap, as you've written its type, has no way to know which tag it's looking for, because types are erased. An idiomatic approach uses the singleton pattern.

data SValType v where
  SText :: SValType 'Text
  SBool :: SValType 'Bool

class KnownValType (v :: ValType) where
  knownValType :: SValType v
instance KnownValType 'Text where
  knownValType = SText
instance KnownValType 'Bool where
  knownValType = SBool

unwrap :: forall tag. KnownValType tag => SomeValue -> Maybe (Value tag)
unwrap (SomeValue v) = case knownValType @tag of
    | T _ <- v -> Just v
    | otherwise -> Nothing
    | B _ <- v -> Just v
    | otherwise -> Nothing

Unlike the IsType class of your own answer, KnownValType lets you get type information as well as a value tag out of a pattern match. So you can use it much more generally for handling these types.

For cases where your typeOf is sufficient, we can write it with no trouble:

 typeOf :: KnownValType a => Proxy a -> ValType
 typeOf (_ :: Proxy a) = case knownValType @a of
   SBool -> Bool
   SText -> Text

As yet another alternative, using Typeable and cast makes for a pretty concise solution. You still have to carry around a dictionary, but you don't have to build it yourself:

{-# LANGUAGE DataKinds, FlexibleInstances, GADTs,
    KindSignatures, StandaloneDeriving, OverloadedStrings #-}

import Data.Text (Text)
import Data.Typeable

data ValType
  = Text
  | Bool

data Value (tag :: ValType) where
  T :: Text -> Value 'Text
  B :: Bool -> Value 'Bool
deriving instance Show (Value 'Text)
deriving instance Show (Value 'Bool)

data SomeValue = forall tag. SomeValue (Value tag)

unwrap :: (Typeable tag) => SomeValue -> Maybe (Value tag)
unwrap (SomeValue (T t)) = cast (T t)
unwrap (SomeValue (B b)) = cast (B b)

main = do
  print (unwrap (SomeValue (T "foo")) :: Maybe (Value 'Text))
  print (unwrap (SomeValue (T "foo")) :: Maybe (Value 'Bool))