That's one implication. There's also the implication that those missing elements that we and the Legion regard as integral--the cape, the tights, the "disguise" offered by his glasses--can be chalked up to the way legends get distorted and exaggerated. Thus, the Smallville Kal-El is the "real" article, while the comic book character is a colorful reinterpretation.No reason. I can't remember the exact lines, but it was something along the lines of
"Hey, Kal, where's your cape?"And that was it. Implication being it's in his future.
"Cape?"