Well, I can see where people raised in the States, like ourselves, and primarily used to American music styles "informing" our sensibilities, might feel that "art - rock" bands like Yes or old Genesis, ELP, King Crimson, etc, have no soul.
However, I would suggest that it is just a different type of soul that they exhibit. People raised in Europe have a wealth of musical history to draw from that has absolutely nothing whatsoever to do with blues music; in fact, it pre-dates blues by several centuries.
So, bands like Yes, and other art rockers, draw much of their inspiration from these sources, as well as nods to American stylings, like blues and jazz. I mean, Bach can sound very clinical and precise, but he certainly had tons and tons of soul, you know?
Out of the loop? I didn't know there was a loop!