Both.
Mitt has lived a warped( sorry Mormons ), isolated life. Exclusive prep schools, Harvard law and MBA, finance, elite Mormon royalty circles, exclusive upper class neighborhoods.
Never once in a bar. No Romney male ever serving with those dirty non-Mormons in the Military( who knows what filthy habits Little Prince Mittens might of picked up ).
No local town government experience. Police,fire, schools, roads, lose dogs all to low rent of an experience for the Prince of Utah.
I've held my peace somewhat when people comment that Mitt would make a wonderful Secretary of Commerce. From the moment that Mitt was born into the family of an American car company CEO, soon to be governor of a major state, Mitt had every advantage in life. Besides the other factors you mentioned, Mitt also got placed on prestigious boards of directors for the simple reason that Romney was his last name. Besides not screwing up the advantages that he was given, what qualifies Mitt to be Secretary of Commerce or POTUS?
In the famous words of Ann Richards: "He was born on third base and he thinks he hit a triple." Frankly, this statement is far more true of Mitt Romney than George H. W. Bush to whom she directed it.