I understand that modern outer layers are more functional. A leather jacket, for example, can be dressed up or down so as to be worn in a variety of situations. It is also better at keeping you warm.
However, I think capes/cloaks are more aesthetically pleasing garments. It also feels good to have the fabric flowing around you as you walk. But what do you think?
Why would you want to wear a cape on a bike? A long, flowing outfit would be the last thing that I’d want to have on a bike. Get caught in the chain.