I would say they got their due here. Cohen is endlessly interesting, never stooped to pop music sensibilities in his song length and language use, works very hard to craft lyrical, literate songs, doesn't pander to anyone.
I just read a thread where "The Wreck of the Edmund Fitzgerald was cited as one of the worst lyrics ever written and, having actually read the words for the first time (as opposed to kind of hearing some of them sung in a dramatic performance) I have to agree. I also had a few Lightfoot records when I was growing up and most of the songs are catchy and forgettable ("Sundown," anybody?)
In my opinion, Ian Tyson wrote better songs than Lightfoot, but Cohen is my man and Dylan, mentioned above somewhere, is also a masterful songwriter -- just look at something like "What Was It You Wanted?," all in questions, full of nuance. Can any of you write like that?