So is EMH a has-been? Perhaps. But the question for you as an investor is whether you can effectively take advantage of the market anomalies that challenge EMH. Pricing irregularities do exist. So do predictable patterns. But there's no guarantee that they'll continue, nor that you (or your fund managers) will be able to spot them and take advantage of them.
If you believe in EMH, then you should be indexing the market. If you don't believe in EMH, then you should pick your own stocks, or pay mutual fund managers to choose stocks for you. If you see merit in both sides, index part of your portfolio and actively pick stocks with the other part of it. Investing doesn't have to be a choice between efficient market theory and active management. There's room in your portfolio for both.