Please, my kitties need to be mysterious. (Because cloaks are mysterious when you put the hood on your head.)

The game's engine will not support capes. No capes.

Would love to have them, however I believe before it was mentioned that the engine doesn't allow it?

The capes were already in game once. They can come back. And if they do i dont see a reason why we cant have a simple toggle for "show capes/hide capes" so people with weak PC's can have them off for performance and people who want to see capes and use capes can turn them on.

The switch could be more advanced too, like "show capes -> only me/everyone".

Beside capes/cloaks other thing i would like to see are guild banners mounted on back of character just like fighter guilds member use:

Much more creative and fancy than ugly guild tabards, they wont cover whole armor, could be used with costumes and best part: they are already in game models for them and they dont require fancy physics.

Travelling cloaks would be lovely to see, but capes? Wouldn't object to them, but I just don't see any use to it.
Come to think of it, I wouldn't want to be killed in Cyrodiil by a Saitama (One Punch Man) cosplayer, nor do I want to see such a cosplayer die.
Just remember:

Funny how many people seem to think "If you want X go play X instead" is a valid argument against a thing.