I think that this UFC HOF is a "synthetic" honor. created as a marketing gimmick if nothing else. Sort of like the Golden Globe awards or the "Peoples Choice" awards.
Eventually these awards may take on a life of their own and acquire real meaning in the mind of the public; the "oscars" is an example of that.
Right now the UFC HOF awards are mostly a figment of Dana's imagination.
Evan Tanner and Mask were both remarkable men. My regret is that I never got to meet them.