that's part of it. an emcee is a representative of hip hop culture. a rapper is a representative of corporate interests. an emcee can be a rapper. a rapper will NEVER be an emcee.
so technically in that light we can actually call Lil Wayne and 50 Cent emcees because they show they have that potential, but they don't use it often. again though, you can argue they both care so much about the corporate interests that they will never be classified as emcees, and i agree with that. Soulja Boy, on the other hand, is undoubtedly a rapper.