Man I wish I was born in a house filled with 40 000 books of literature! My folks were quite content to read Selections from the reader's digest, pop star biographies and magazines.
For some unfathomable reason, this did not prevent me form getting an education, studying literature. I am sure I haven't read 40 000 books in my entire life, not even close, and I'll not get anywhere close to that in what's left of it. But still, I think I can appreciate Dylan and his contribution (I really, really like some of his songs and lyrics) and put them in perpective. The impact he had on popular music is incredible.
But then again, I do not think that that's what the Nobel Prize for literature is about.
Honestly, I can think of plenty of songwriters who are just as good or better. Leonard Cohen comes to mind instantly. I can also think of at least a dozen French songwriters who are, in my opinion, as good and/or superior to Dylan. Very few of them if any I'd consider Nobel prize material, though.
And then, there's actual writers, in every language and every country.
The only advantage Dylan has on them has nothing to do with literature.
Can a pop star die without people creating a petition to have a star named after him anymore, can a lyricist change the way we write lyrics and be appreciated for his contribution even if he's not nominated for a Nobel prize?