I my experience in Canada, the best courses seem to be developed by owners who have a very precise and clear vision of what they want. Often these people know something about golf, are occasionally good players, and have a specific sense of what they want their course and club to be. One may not always agree with the end result, but I think they are owed a certain respect for knowing what they want. On the other hand, there are plenty of owners that haven't a clue about golf courses other than the fact their other rich friends have one and they need one too. I think these owners are easily swayed and influenced by those around them to create mediocrity.
As for which makes the better owner -- I suppose that depends on whether the architect prefers someone who knows the sport and the business, or someone who just wants to "build a nice course." The first will get in the way occasionally, but their focus and determination to build their vision is certainly the stronger in the long run.