Thanks I enjoyed your style of thinking. As you say there are certain groups that are obligated to play, and for them profit motive is secondary either because hedging or etc is their primary goal.
It definitely shows skills and the skilled man cannot be categorized as dumb money. Still I consider the 100% anti-correlation a sort of risk sophistication that my over simplified reward/risk statement does not cover, but we all know that in terms of other risk metrics your example shows the skillfulness of the trader and hence he is not dumb money.