Bill Nelson -- An Artist's Artist?

I was thinking about Scott Walker yesterday, and how his career was brought back to prominence, at least in part, by high-profile artists who he influenced.

And there was that BBC concert of various artists performing [mostly terrible, admittedly] cover versions of his work.

I wonder if, like Scott Walker, Bill Nelson might be considered an artist's artist. Many, many high-profile singers and performers have cited him as an influence. Would it be a good thing if they were to band together and do some kind of celebration concert...or are such things inevitably a bit embarrassing?

What say you?