CFM is primarily a measure of wind resistance. The higher the number, the more wind/air will pass through the jacket. Of course, that means that hot air/humidity gets blown out of the jacket, but it also means that the cold wind blows through the jacket.
There is another measure MVTR that indicates how much moisture can be moved through the fabric. For example, Gore-Tex ProShell is 100% wind resistant with a CFM of 0%, but it does indeed move some moisture through the fabric. A Patagonia Houdini surely moves more moisture than a Gore-Tex ProShell.
I think you have to decide what you want. If you want a jacket that you can wear under hard exertion, then there are plenty of very highly breathable long sleeve tops that will do that. Heck, a long sleeve tech t-shirt is quite breathable. There are dozens of wicking mesh half-zip tops for the running market that are incredibly breathable and offer a bit of warmth on a cool day. There are unlined softshells with minimal wind protection and high breathability. But, if you want something to put on when you get above treeline and get smacked with a 40 mph breeze, then these highly breathable tops won't help you stay warm and you might prefer to be able to grab a jacket that actually cuts the wind. If you find that your rainshells are comfortable for that, then there is no need to carry a windshell.
I only have three rain jackets, so maybe there's a comfortable one out there that I've missed, but I don't want to wear any of them on an above freezing day unless its actually raining or snowing or unless I'm looking for emergency warmth and want to trap warm moist air and block maximum wind.
I think much of the misgiving about breathability is an effort to turn a windbreaker into something it's not: a high aerobic output top. They are two completely different products for two completely different goals.