The material they used on the DX09 cape, both the outer and inner lining, is perfect. Very tight grain, perfect finish, etc. And the stitching is excellent. The rounded edges make it look perfect. The one problem is that there's just too much of it. They made it big enough to do the dramatic wings up pose, but you can't really leave the figure in that pose anyway. They should have just made the cape smaller, so that it would drape nicely more easily. You can definitely get it to drape well, but you have to spend a lot of time futzing with it.
The Tony Mei capes that I've seen drape much better, and much more easily, which is why people like them. The stitching and material isn't quite up to the level of Hot Toys, though. They have very sharp edges, not rounded, they look like they were just cut from a piece of fabric.
Looks like they're doing something similar with MMS 293. The cape looks to drape much better, but if you look closely at the inner lining and the edges, it looks like it's just cut from a big piece of pleather. Hopefully the finishing details will be better on the final figure (and if not, not a huge deal).