Neoprene isn't supposed to be waterproof. It's supposed to be insulating.
Neoprene can be produced in either closed-cell or open-cell form. The closed-cell form is waterproof, less compressible and more expensive. The open-cell form can be breathable.
Thanks Wikipedia.
@dan started
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
Neoprene isn't supposed to be waterproof. It's supposed to be insulating.