He was a cop, and good at his job. But then he committed the ultimate sin and testified against other cops - gone bad. Cops who tried to kill him and nearly got the woman he loved instead. Framed for murder, now he prowls the streets. An outlaw hunting outlaws, a bounty hunter - a CAPE!
But yeah, the premise is so cliché that it's almost laughable. Having said that, Batman is one of the most believable superheroes and has arguably aged well as a concept, so he is probably the best choice as far as who to immitate. Besides which, while I dislike the superhero "genre" (if you can call it that), it seems to me like it has gone rather stale due to the big presence of older superheroes. So having someone have a crack at a concept for a brand new superhero feels like a welcome change.
Also, The Cape could be interesting depending on what direction they take him. If they give him a more stealth-based style (which would fit, considering he was trained by a group of thieves), it would help differentiating him from the other, more action-oriented heroes.