Was posting in a rush this morning. Cloaks are enormously impractical. I love my larp cloak, it is a great big Game of Thrones style thing, (fake) fur mantle over the shoulder part and everything, but it is not practical. It is warm, yes (mostly courtesy of the entirely inauthentic but invisible when worn polar fleece lining), and reasonably waterproof (outer layer gets wet, inner layer doesn't, I stay dry).
However: it's made out of a good 3 to 4m of fabric. That's a lot of fabric to be flapping around your arse wherever you go. It has no arms, so you have to wrap it round yourself, and if you need your hands for something you have to let go so if there is a stiff breeze you will get cold. (It does drape well, so it more or less overlaps at the front, but the wind will make it flap open)
You have to make sure you get the length right so it doesn't trail on the floor, and even if you do, you'll kneel down/sit down/step in a puddle at some point and get the hem wet. Once you've got the hem wet, it'll start wicking water and mud up the back of your legs. If you get caught in the rain and get the whole thing wet, it'll soak up water. Last time I got properly soaked, it took me two days to get the damn thing thoroughly dry again. And that's with a modern, lightweight fabric - if I'd sprung for the nicer, heavier, organic fibers, it'd have taken longer. This leads to another point of impracticality, namely that they are very heavy - the warmer and more waterproof, the heavier the garment. Especially when wet.
And the final indignity is that I need to ask someone to come with me every time I need to go to the bathroom, because I need them to hold the cloak. You can't just hoik them up, you need to take them off and there isn't usually somewhere to hang them. This may be to do with only ever wearing the cloak at larp events which have rather limited facilities, of course, but still!