I think most guys like the natural 'look' but not necessarily when girls don't wear make-up.
It's about how you wear your make up.
Some girls apply their foundation so think that it's like a complete second layer of skin. It's kind of a less is more thing. Make-up is used to enhance, not to change us completely. Generally speaking guys don't like it when girls look to fake - when they look like they've been photo-shopped and airbrushed. They just like a few little touches.