L8 capes like the Bat Wing sure are. They can even be combined with the Hussar Wings.
Many capes that occupy slots L1 and L8 like the Bear, Lynx and Reindeer cape give some stats to make up for the 2nd slot missing.
So they seem like good early and mid-tier items that get replaced by 2 separate L1 and L8 pieces with more slots later on.
The Ranger cape gives no extra stats, but apparently allows you to "fail twice at slotting", but what does that even mean?
Is it even worth to craft?
If I slot once, the chance is 100%.
So I imagine that this bonus to the ranger's cape only applies in the off-chance that you get more than 1 slot?
If that's correct, then it's not worth it to craft a single cape but a multitude via recycling only?