Shame has practically been thrown out the window in certain places and we can see the effects of that - people scamming each other, lying in the streets, etc. Guilt is also being eroded across the west, leading to things like rampant criminality and punishments that are less than a slap on the wrist.
Fundamentally these emotions are designed to keep us in check with the rest of the group - does this negatively affect some: yes. But at the benefit of creating high trust societies. Every time I encounter this topic I can't help but think: Don't throw the baby out with the bathwater.