The latter characterization of God is one more in line with Abrahamic faiths. One can also contemplate the idea of a universe in which existence doesn't have a purpose or end but God still exists. The Hindu contempt of Lila comes to mind in which the eastern traditions in so far as I have studied them are quite silent on the idea of teleology. Anyway, to me, the relevance of the concept of God ultimate lies in its utility. To what end is the belief in God a useful one?
I can't deny the sense of calm I've felt after praying, for example. The sense of calm in the idea of having someone guiding you towards a state of blissfulness. The idea, ultimately, of some kind of inherent order underlying the chaos which I perceive.
Yet, sometimes I feel that a universe with order is too unsatisfying, funnily enough. That it doesn't possess enough instability to produce anything interesting. Perhaps I ought to start contemplating the idea of God as a chaotic magician. Here I'm not limiting myself to the Jehovah's witnesses or any particular religion's interpretation of God. Sure, those can be helpful but I've always found that something which comes from within works best in the end. Also, what does it entail though? How can we stand the idea of existing in an arbitrary universe, if we are to discard the concept of God?