There are some perfumes and colognes I enjoy, but the trick is moderation. So few people know how to apply it correctly and effectively. Additionally, smokers will often reapply after smoking because they're convinced it covers up the smell (it doesn't).
I will say that, other than young men wearing Axe, I very rarely encounter a man wearing too much cologne or aftershave. There was only one time in all of my years of traveling that I can remember a man wearing too much cologne, and that was a gentleman wearing something musk on our flight from SFO to ORD.
It could also be that I notice perfume much more easily, as many of the scents give me an asthma attack, but I really do think women simply apply too much and too often. Colognes (other than musk) don't bother my asthma or give me that "cloying" feeling; I wonder if it's the chemical makeup? Maybe there's a difference? I actually really enjoy the smell of cologne and aftershave. Maybe it's psychological? Maybe it's the scent itself? I'm not sure.