I would venture to say its both. Social engineering is a disguise of genuineness. Sure there are some that might ask legitimately for the time. I mean shelters have a curfew so if you don't make it there on time, your locked out. However there are certainly those that are asking to check out your wares. Maybe even just a question just to see who will answer them.

"Hey you got the time?" Based on if and how you answer the guy has a good idea if you are friendly and perhaps naive. Certainly asking for a dollar after that would be just as harmless.