No cloak. For one thing, 'cloak' is a fancy VFX for spawning/killing objects.
Nothing more.
Why do you think those two Rheinland Valks after you leave Leeds regain all their hitpoints each time they cloak? they are being removed and respawned.
I do like the idea of ECM though. (ECM; Electronic Countermeasure. IE sensory invisilbity)
Heck it makes me mad as a hornet that the new logging off in space message is about cloaking.
Its more OORP than a lolwutter.
I'd love to see it changed to, say "X player is trying to go stealth" or "go dark" or "escape sensor detection" or "enter sensor-proof mode"