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?
Because we live in hell now and a cape would cook us.
Depends on the fabric and color. Look at arab countries, people there use tunics and loose clothing that cover most of their bodies and are mostly fine in +40°C