So who defines someone as a legend? Do you have to make it into the Rock and Roll Hall of Fame. I would say anyone there can legitimately claim legend status. After that, I guess it comes down to who are big influence bands. What of the Pixies? I would say they are getting to legend status with the number of bands that cite them as a huge influence (everyone from Nirvana to Bush). But for these bands it is a slippery slope and one with more wobble room.
Oh, and as far as I could tell when I went to the RNR Hall of Fame David Crosby is the most inducted person (3 times for the Byrds, Buffalo Springfield, CSN/Y).