Fragrance fragrance of cocoa really isn’t a factor in selecting cocoa. The first real difference is selecting an alkalized (dutch processed) versus natural cocoa powder.
Cocoa powder is naturally acidic. Since we can detect the acidity it will mask some of cocoa flavors. By neutralizing some of the acids, we can taste more of the chocolate. People often say alkalizing the cocoa powder makes it milder, which I guess if you think of acidity and as strong and a base as mild, then I guess it is milder.
Every chocolatier uses different varieties and quality of cocoa beans to make a number of chocolate products. Just as Valrhona is markedly different in flavor from a Hershey chocolate bar, the cocoa powders made from these beans will vary greatly by these different brand.
There is also differences in starch/fat content of the cocoa powder. The cocoa powder is made from the leftover cocoa nibs after the cocoa butter has been extracted. there’s some residual cocoa butter in these nibs. Better quality cocoa powders have high cocoa butter fat content. When a cocoa powder has a lower cocoa butter fat content, that means it has a higher starch content. So it will absorb more liquid, competing for free water in batters and doughs. Batters and those will be drier, thicker; cakes will be denser, lower in rise; cookies more crumbly. Baked goods will not taste as rich and smooth.
The leavening has to be considered when baking with cocoa powder. Baking soda is an alkaline (base) as is alkalized cocoa powder (Dutch processed). Baking soda needs an acid to activate, so when using alkalized (dutch processed) cocoa powder, you need to use baking powder as it is an acid.
When using natural cocoa powder (acidic), baking soda (alkaline) needs to be used as a leavener.