Yep. They respect each other to a certain extent.It's not about that. Aemond literally hates his WHOLE FAMILY. You gotta remember when they were kids Jayce, Luce and Aegon used to all tag-team tease and beat Aemond up. Even Daemon's daughters used to get jokes in. So now, here he is Dragonrider of the most fearsome WMD in all of the world and his older brother still doing everything he can to emasculate him. Not to mention also be a shyt king. On top of all that, he KNOWS he's capable and he's ready, but instead he's being held back by an older brother that couldn't fight his way out of a paper bag. That's why he gravitated towards Cole. They are both men of action. Even if Aemond is a much better tactician.
The only one he can stand is Daemon because he's basically a young version of him. He respects Daemon's steez.
They “see” each other, if you will