> Art is about engaging with human emotions and thoughts

Exactly. Still, that does actually not contradict what I wrote. You can still do this from a viewpoint of Structuralism, Formalism, Reader Centric Schools of Interpretation and Author Centric Schools of Interpretation.

Non of those are less intellectually" engaging with the work. Differently - and in my personal opinion more or less intellectually rewarding - yes. But not less or more.