I don’t know about the HOF, but the buying public doesn’t seem to place much of a premium on musicianship.
And let’s be honest for a bit here. I’m a big Yes fan myself, but they’ve put out a fair amount of self-indulgent crap over the years (to some extent that’s a hazard of playing prog-rock). I’d still like to see them get in, though.
Unfortunately, you're probably right about the musicianship.
Yes have put out some stuff that could be labeled self-indulgent over the years, as you point out, but they've also put out some incredible stuff that has stood the test of time. They helped define Prog-rock, and to me they are way more worthy of inclusion that many bands who've already been inducted. Just my opinion.