I don't see why you'd split the two. Actual good functionality is UX. Lack of good functionality implies the user has a bad experience given the intended goal.
Big players tend to do the minimum, either attracting with shiny red herrings or barely doing anything at all. Both are bad UX.
From talking to actual end users though I am convinced there is no universally good UX. Someone will not understand it no matter how perfect you think it is.
Now I favor ugly but robust UX for business applications. The user doesn't have to love it, it's their job to use it. It just has to be efficient and comprehensive, not pretty
Big players tend to do the minimum, either attracting with shiny red herrings or barely doing anything at all. Both are bad UX.