The former. People have been over-charged for destroying the property of others, in the example given. But my point was comparative.
Also, to clarify, it should be difficult or impossible to charge someone for assault simply for destroying property. But according to how I understand assault laws, and leaving room for jurisdictional interpretation, if you do it while doing something else that can be read as intimidation then you could be vulnerable to an assault charge.
Whether or not the other person is actually intimidated won't ever be considered. Cop or civilian. The intention is what will be charged.