Smell is not a good indicator. Fresh bleach will have almost no detectable odor to it. What does cause a "bleach" smell is the bleach vapors getting up into your nose and then the hypochlorite reacts with the mucous membranes in your nose causing chloramines to form. The chloramines are what causes you to "smell" bleach and everybody's nose is different with different threshold levels of detection. If you pour the bleach into your pool and you get the expected FC rise, then the bleach was roughly the correct concentration.
I agree; for me, the lack of smell just confirmed my suspicion that the chlorine was degraded. The proof was in my test measurements and the lovely shade of green in my pool.
But, for what it's worth, I don't think I've ever purchased bleach (6%) or liquid chlorine (10% or >) that DIDN'T have a bleach smell. Maybe my nose is more sensitive or maybe I just never noticed?