All the liquid soap I've made to date has a naturally distinct 'soapy' smell in its unscented state (which incidentally is very different from the smell of unscented CP bar soap....at least to my nose anyway).
It's hard for me to describe the smell, but I rather enjoy it because it takes me back to my grade-school days (late '60's to mid '70's) when the liquid soap dispensers in my school's bathrooms were always filled with unscented, uncolored, liquid olive oil soap. In the mid to late '70's they changed over to using a different kind of liquid soap that was pink and perfumed, and it wasn't long before I completely forgot all about the smell of the former soap.......until I started making my own liquid soap, that is. Wow, it's amazing how much of our memories are attached to the sense of smell. Upon making my first ever batch of liquid soap I was immediately transported back to kindergarten and washing my hands after recess.
I find that using about 2% FO in my finished liquid soap is usually enough to cover over the natural scent sufficiently, unless it's one of those lite FOs, and then I'll add just a tad bit more.