Hi Alick,
I can see Google giving importance to second example, that's where I started this question. I can even see many of the good ranking pages are not repeating their "keywords" at page title but making clear with the topic like the Moz page you referred says "What Is a Title Tag | Moz". As per Moz, we can give primary and secondary keywords with brand name at last. But I don't see many top ranking pages using two keywords, rather single keyword targeting are doing better. Please share your thoughts.
Thanks,