Ulrich said:
Punk rock and metal are both kinds of rock.
And an argument is made that so is folk, country, R&B and hip hop.
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By your second argument, we should really just name it the "first caveman to rhythmically bang two sticks together" hall of fame. I don't know exactly where the edge of rock is, but it's somewhere this side of Whitney Houston and Notorious BIG.
I think rock and roll and R&B, being derivatives of jazz + blues, can be limited to persons and groups from the post-depreciation 20th century forward. If your of the belief that R&B and rock and roll are linked, than most any popular music that generally incorporates a I-IV-V chord progression and its variations falls into "rock and roll" or "rhythm and blues." All of the other subdivisions are academic.
edit to add: I think the recent additions that tend more pop and hip-hop oriented are somewhat necessary because so many of the already admitted members are average to musicians but are great lyricists and vocalists. WH and Biggie may not have written their own music but neither did many of other already admitted artists. Times change and so does music. Considering there arent a whole lot of 'rock and roll' bands with much traction nowadays, the HOF has to broaden its base otherwise only the White Stripes, Tool, and Coldplay will be left to induct (sarcasm, kinda)