That famous quote from the Baal Hatanya is referring to the second category, of asking personal advice. Of this we mostly agree anyhow, that while it is worthwhile to get a Talmid Chacham’s perspective you are not Mechuyav to take his advice. (Although, to ask and then disregard might be Bizayon Talmid Chacham, depending on the circumstance.) Interestingly, the Baal Hatanya didn’t stop giving such advice. He obviously just wanted to slow it down. He wouldn’t have given advice had he not felt capable of doing so.
He didn’t address the main kind — where it is usually invoked — which is public issues. For this it doesn’t take Nevua or derivatives thereof to make decisions. And yes, we must follow our leaders as we always did.