No, I think we totally agree on the definition/interpretation of 'artists', which is what Dylan/Waits are, but that's not what you wrote...which was
"I rate Waits and Dylan as the only two serious musicians out of America in the last 60 years".
Anyhow, if you want "I'm talking about song writers and musicians that transcend to an untouchable level of artistry. Game changers. Rule breakers. Totally their own being and prolific in commitment and volume of genius writing. It's got nothing to do with entertainment value." - then have a look at Inca Roads or Strictly Genteel by Zappa...I think you'll find it meets your definition:)