I had heard that same thing years ago.. (in IMPBA) years ago.. But when you looked at the people in the HOF it was easy to see that was not true.
from the IMPBA Rule Book
I - IMPBA Hall of Fame Criteria Through the years, several people have been honored by their peers for making a contribution to model boating. The following criteria have been established for making nominations to the Hall of Fame. 1. Significant contributions to the advancement of model boating or competition. 2. Significant contributions to IMPBA as an organization. 3. Significant national recognition as a competitor. 4. Significant technical contributions to model boating as a hobby sport without receiving financial gain or manufacturer status as a result. 5. Manufacturers must make significant contributions in areas other than for, or as a result of, their products to be considered. 6. National championships or records are not required for consideration. Each district can nominate 2 people each year, and any nominees will be voted on at the International Regatta Board meeting. A limit of two (2) of these nominees may be inducted per year