There's so many people in the second category for so many reasons, its pretty much made "PhD" a "don't hire unless good reason" filter for me.
Reasons might include: couldn't make it in real jobs and delayed joining the the job force for as long as possible
doesn't want to be held accountable for actual working solutions and likes working towards "novelty"
enjoys approaching every problem with the most complicated possible solution they are aware of
thinks generalization is the only way to approach specific special-case problems, if they can't find a generalized solution then they think its unsolvable even when the special-case solution is fine
has grand research ideas they weren't able to convince anybody in academia to fund and think they can chip away at those ideas by cowing coworkers into working on it for them
likes being the "smart guy in the room" and builds a career of talking a lot with complex technobabble and buzzwords but has no idea what they're saying (I've encountered many many of these myself) -- often has mile long CVs as well
creditialists who think racking up pretend education credits is the most important thing in life
failed academics who point to their large private sector salaries as why they've ended up on the superior path than their old peers
and so on....these are literally descriptions of people I've encountered just in my current job over the past 5 years...it keeps going on and on.