This is a very subjective question. To say that any bass is better than another on any given day is to say that it fits a certain player better than it fits another. So players of the "better bass" are then "better players?" I wouldn't say that at all.
Maurice Fitzgerald has left a few Ken Smiths panting for breath by the end of the show, and Jimmy Haslip (with the Yellow jackets) and Kim Stone (with Spyro Gyra) have said things musically with their MTD's that folks never heard before.
How about I give you my opinion on both and you can decide for yourself.....
Ken Smith makes wonderfully crafted basses. The fit and finish and play-ability (from string height to neck design) are of top quality. Wood choices are superb.... the man LOVES walnut. He has a drying process and time period that really turns ordinary wood in to great instruments. A Ken Smith is gonna be punchy!! Especially the Bolt Ons. In my opinion, Bolt Ons tend to be more articulate than neckthru's. Neckthru's are great for sustain and deep harmonics. A bolt-on is better at making you feel like you're sparring with Tyson. Slap it right and it'll slap you back. Ken Smith basses are worthy gloves for that fight.
MTD's are different animals in that Mr. Tobias used to make neckthrus exclusively before he entered into a business deal with Gibson and now makes MTD's. So he know's a thing or two about the two construction styles. That he settled on bolt on's says something to me about his direction for his instruments and his company. The more articulate MTD's, in my opinion, have the Wenge Neck and Wenge Fingerboard. The tonal range in which they excell at goes considerably deeper, by that, I mean that an MTD with the wenge/wenge combination sounds stronger in the low end. Other necks and fingerboard combinations aren't slouches, but if you've ever heard or played a wenge/wenge MTD, you'll know what I mean. Body woods for MTD vary and he loves to use exotic tops. Craftsmanship is top notch. Electronics are usually Bartolini and that alone make the instruments special. Mr. Smith uses his own proprietary electronics, and they're not bad, but the Bart's in MTD's really help you stand out. By the way, don't let 18 volt electronic packages impress you over 9 volt. THe increase in Headroom is only slightly noticeable ON A RECORDING, and it is not at all noticeable in a live situation. Ken Smith JUST started using an 18V package to keep his instruments competitive with all the others on the market. He didn't have to at all. The 9 V Smiths are just as good and just as strong.
Having said all that, the best, most expensive & exotic bass will still sound like hot doo doo in the hands of an inexperienced player. I am fortunate enough to own a Fodera, and while I'm not bad... in the hands of other players, my bass has BLOWN ME AWAY..... well not really, what the bass CAN do and sound like is what has impressed me. The real skill was in the hands of the musician using it to speak to my musical senses.
Compare this to that all you want. I'll be the first one at the table when it's time to talk gear...... but don't forget to practice your craft. That's where really good basses shine.... in the hands of really good bass PLAYERS.