True - but I still doubt it and don't want to see this take go that goofy, personally. Him using a normal, non-trick umbrella, or maybe an umbrella sword since those exist? Sure.
But there's no reason on earth why anyone not into steampunk or victorian duds would do the top hat and monocle look.
I just don't see this taking that campy a direction after what we've seen of it, and I don't want it to change into that. If that's what is to be done with Penguin, then the movie would have to be very, very different from what all signs indicate it to be.