For me the best jackets are the windproof fleece type jackets, which aren't really waterproof yet somehow you don't feel wet inside when you're cycling, even wearing a far-from-ideal old cotton t-shirt underneath (or office shirt on way home). Experienced based on 7 miles each way all-year-round all-weather (except ice) commuting. If doing a day ride I might want a thin waterproof jacket for stops. My jackets are a modestly priced
altura one (not sure if still available) and a much nicer but objectively not much better assos one (itself not brutally costly as it was last-year's colour or summat). They're both made of something akin to Mountain Equipments semi-waterproof "aquafleece" so aren't per se more than water resistant