Compared to shredders, I think most people could be said to have soul though. I think the reason shredders don't get any soul across is because it's difficult to give each note it's own "character" when the next one's coming so fast. You can't use vibrato or bend on every single note because it'll slow you down so much, which isn't what you want is it.
I think the thing that's caught Yngwie is now he doesn't know how to do anything else. I'll admit I've not heard any of his new stuff, so maybe I'm wrong and he's slowing down in his old age, but I doubt it. I think when you devote your life to shreddering, or at least you become rich and famous for shredder, it's hard to change and go for the more soulful approach. I know people've done it, but I don't think it was easy for them.
I'm beginning to think though most people aren't really all the inspired to play like Yngwie...