It would definitely be a system where it would only vent vapors as opposed to actively drawing them out via vacuum and fresh air supply. I always thought that made it a "positive" system since it is relying on positive crank case pressure to vent the system... I've been wrong before, so I wouldn't be surprised if it happens again, lol.
There is a fair bit of nuance to the factory system, which leads me to believe it isn't as effective at drawing out vapor as it would seem at first glance. Yes it has a vacuum source at all times, but without an inlet for fresh air that vacuum is only drawing out as much as blow-by generates, and no more. The factory system has a source of fresh air only when not under boost. The front valve cover. At idle the PCV connection gets vacuum from the manifold and fresh air from the front valve cover. Under boost front valve cover becomes a source of vacuum, and the PCV is closed. So under boost there is no fresh air circulating, it is just a vacuum source being fed by blow by gasses and nothing else.
So vacuum, when coupled with fresh air source, does circulate more air through the crank case. The downside is that it feeds the vapors right back into the motor, where it gums up the intake valves and pools in the CAC. The breather tank would remove vapors at the rate they are generated via blow-by. The positive pressure of blow-by gasses being what forces those gases and vapors out of the crank case. None of it would be fed back into the motor though.
As for smell, that certainly does suck... I would think that an MKS would generate less than a 5.0 race car, but I've never tried so I don't actually know. On your 5.0 were there just breathers fitted straight onto the valve covers, or were they routed to a breather tank?