On the other hand, the distinction means something different now.
A TIME Person of the Year used to be the single largest force of societal influence in one year, and reading the accompanying feature would enlighten you as to why in their estimation.
They're at a quarter of their circulation in the 90s and most of the hangers-on are dentist's offices. TIME's Person of the Year now means something like, "oh they're still doing those? Who'd they say this year? Ah ok."