Seinfeld has this covered:

Invention of more complex and effective materials I would presume. Getting a light and thin jacket which will protect you against harshest of winters is easy these days and more to the point it's far more practical as you can do things in it.

I really enjoy capes or cloaks as an aesthetic element. Whilst I wish they were more commonplace, I also enjoy being able to have aspects of my fashion that are just a bit "weird"

I have a nice collection of them ranging from cheap Amazon capes to a custom Cloak and Dagger wool and velvet cloak that has lasted me almost a decade. I mostly use them for performing but have worn smaller cloaks and ruanas out before. They're particularly wonderful on those crisp, slightly chilly autumn nights in October.

Bram Stoker must have had somewhat of a hand in the decline in popularity of capes.

Haven’t you ever seen the Incredibles? NO CAPES!

If you want to make money in the Star Wars universe, go into the cloak trade.

You will never be poor.

You'd be expected to rescue people or give haunted building tours

LOL! I'm actually in the market for a cloak. Been prowling the 2nd hand stores

When I read this, I can't help but think of the "no capes" scene from The Incredibles.

In all seriousness, they were a uniquely Roman-area thing (moreso before its fall and people like the Gauls wanted less association with their Roman roots). You just don't associate them with the Chinese, Indians, Incans, etc. I'd wear a cape if they weren't more associated with men, would be cooler than sitting here in a quarter zip sweater over a blue plaid shirt and jeans, some normie I am.

I think once my kids learned how to make blanket caps a lot of things ended up broken in a very short timeframe and I banned capes.

I would love to but sadly people will think i am weird.

If you have the confidence, wear whatever you wish.

Practicality of stuff like jackets aside, I feel like they'd be dangerous to wear because they'd get caught up in all sorts of stuff. They'd also get dirty pretty quickly.