Why having armpit hairs?

My uneducated guess would be that it is a leftover of our evolution from primates :0)) the only patches of hair that still serve a real purpose is the hair on our head, pits and pubes. These zones are still some of our primary sweat areas, and the hair helps to collect the water that goes through our skin there , in order to catch the sweat and keep it on our skin, othrwise we would sweat a lot more in order to cool down our body in those areas. Ever shaved your head very short and sweated on a very hot day? The water just keeps coming because the sweat doesnt have enough time to stay on your skin to actually cool you down... So in essence it is to prevent you from dehydrating too quickly.
Anyone with a medical degree, please say whether this correct or not? :0))

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