I add a layer for about every 10 degrees below 60F down to the teens. On the coldest days, I have two pairs of shorts, tights and a thermal layer on my legs, 4-5 layers on my body with outer shell, double gloves, etc. If you put in a good effort, even on cold days you'll sweat a bit, and on hot days, get soaked. In heavier rain or snow, you'll get wet no matter what you do.

So, the main feature of bike specific clothes is they stretch to allow for layering and do a pretty good job wicking moisture, which helps in retaining heat. They also dry faster during the day at work so you're not putting back on wet clothes.