Emotion is not, in its entirety the first judgment of a human. Now if it said, character, then that would be a different story. Intellect on the other hand judges your whole life. Getting a job living as a do nothing type person, just won't get you far. Now emotion can get you places in some area, like singing, but technique is also needed.
Intellect is not just more important in modern society, but has always been more important - the problem is convincing people that this is true. Emotional decision making readily devalues facts and accurate plans in order for quick action and anything that 'sounds right.' Intellect allows for rational and disconnected decision making that, in the vast majority of cases, produces superior results.
Yes, intellect is more important in mainstream society. The world expects you to carry it on your shoulders, and it takes strong minded people to do that. People don't have as much compassion in the business aspect of things. However, friendships will always be based more on emotion. Humans need that connection, no matter how robotic.
If there was no emotion to drive us, we would be robots. Emotions might cause us to sometimes make rash decisions....But its those very emotions that teach us love, care, respect for one another in society. Anyone can use their brain in a matter of common sense but not everyone can use their heart.