Neoprene gets cold in the wind as the moisture evaporates – it’s designed for use underwater where this doesn’t happen
That happens to any wet fabric though and the more it absorbs the worse it is, then the windchill gets to you fast.
Neorene’s not just meant for underwater, I used to use it for windsurfing where it was just the falling off that got me wet, then it was back to windchill. It simply insulates differently to fabric pile, wet or dry.
While I think neoprene vs fabric gloves is ’50-50, it depends’ stuff, the one major failing of a fabric glove ime is when the waterproofing gets overwhelmed (you’re gripping a bar, that pressure is more than most waterproof+breathable fabrics are tested to to be called waterproof – solid plastic should be different though) or they wet out from the cuff area the drop in insulation is pretty quick and nothing you can do from that point on will keep your hands warm. It’s caught me out hours from home a few times using a number of different layered bike gloves. Neoprene is more consistant between wet and dry and stays warmer when it’s really wet, ime.