Those definitely form a better seal around your body to keep you warm.
Warmth always consisted of 2 component
1.) Heat insulation - your body constantly generate heat, insulation helps you retain that heat and keep it close to your body. Insulation like duck feather form little air lattices that traps the heat and keeps you warm creating a heat barrier between you and the elements.
2.) Heat retention - or essentially wind proofness. The feeling of cold is caused by cold air picking up the heat and dragging it with it away when it passes you. A proper jacket to keep you warm will always have some degree of wind resistance.
These jackets are advertised are all for looks. It usually has little to no insulation and the big openings between buttons are horrible at keeping the wind away. Under non-windy conditions, it may be fine but most the time you have to hide some insulating layer underneath like a thick sweater if you want to remind fashionable and still stay warm