I used to work for the 2 masters in Boulder. At the time, only one - Wayne Belding - was a Master Sommelier. After I left the job, Sally Mohr (the other owner) studied for and passed her Master Sommelier exam.
They could indeed identify region and variety by taste, and maybe a general year, but it wasn’t like one sip told them it was a 1972 Chateau Margeux or something.
As far as practical uses, well, they ran a damn good wine store. It was fun to work there. We had weekly tastings that all employees were required to show up for. Was a great job!