I think it id not deserved, in my opinion he has written two excellent songs and a couple of other fairly good ones. in my opinion he has written less good songs, than Ewan MacColl, but really awrding a prize for literature to a song writer is a joke, some of his literature is doggerel, some of his songs are very unclear as regards meaning others like hattie carroll are good subject matter but way too long and are unimginatively constructed, written like a factually accurate list butin need of serious precising and or editing.
By awarding this to Dylan they are devaluing the literature prize, if it was a song writing prize on the strength of at least 3 songs arguably 4, he would be a contender, but not as a poet or a writer of literature, no way, WHO WERE THE IDOITIC JUDGES.