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To give it it's credit, the Core Rain Jacket is very light & packable. Aside from the PT Windjacket, it's the lightest in the jacket range (a medium is 30g lighter than the (old) single-ply Classic Windjacket) and I think you'd be pushed to find anything like it if you are looking at price.
If you want a stowable jacket for showers/warm changeable conditions, it's worth considering. If you want a jacket for riding longer in the rain, a more substantial shell like the Race Cape (with venting features like cuff zips and velcro front) would be a better option.
Hope this is of assistance.
And there are plenty of non-permeable membranes available for less than half the price.
Core rain jacket - pricey and not nicer than anything else.