It does smell like liquor, but I wouldn't say it smells like a bourbon barrel. I don't get any of the cedar barrel or vetiver notes, unless I sniff deeply but they're faint. Although, I don't recommend sniffing deeply if you're easily nauseated because it is a heady liquor note.
With that said, this is definitely a useful FO to have because mixing it with other FOs, like OFC's Smoked Vanilla Whiskey and Around The Fire, does give the finished result a very realistic liquor undertone. Noticeable and prominent projection OOB. I already mixed some of it with other FOs to make an ethanol-based perfume spray and the notes came through nicely.