If you're looking as Perfumery as an art/craft, then I believe the second, but with a well trained nose (not natural ability, just experience!) The scents made by these people, are most likely to be branded as niche, different, creative and most importantly, individual. I believe that this can swing both ways though, for good or bad, but there will be connoisseurs, like us, far and few, that will appreciate them even if they don't like wearing them too much
The 'bloodhound' type would be most useful, for someone who works for a company that makes fragrances on contracts for generic companies (unfortunately, Coty comes to mind) where they know what they have to smell, as the stuff they're trying to get close to, has most likely been put through a gas/liquid chromotographer and so on!
I appreciate the latter type of person, as they view fragrances and value them in the way I do. The first person, I have very little awe towards, but can still see that they can come up with the odd gem, just because of a natural gift
Ideally, both, is perfect though, and that's what it takes most of the time!