I remember when than TIME article was first published. I felt that it was pretty fair to call them the world's greatest rock band. REM received a similar label in the early '90s from... Well, from Rolling Stone. It's fitting.
Someone needs to hop-to and make the same assertion about Deerhunter. Not all bands can be given such a title. It takes a mixture of rock/pop directness and an experimental zest for recreation and discovery. Deerhunter has been that band in the underground since Cryptograms, and they've been that band in the semi-mainstream since Mocrocastle. They're not even the best band in the world, but they're the torch bearers of rock and roll's trashy, androgynous, Give-a-fuck purity.