That is perfect!
The music industry does have respect for Michael, maybe not as much as I believe he deserves but they DO respect him.
The public, that's a different story, and it all goes right back to the media again. Unfortunately people believe what the media feeds them, and in almost every single article written about MJ, they use terms like 'The fallen KOP', 'The former KOP' and stuff like that, when for instance Madonna is always praised even though her musical contribution hasn't been exactly ground-breaking.
This is something that I personally think will always haunt MJ, the media simply won't back off...they'll keep trashing him and do everything in their hands to undermine his accomplishments.
The sales of Invincible are the perfect example, not everyone is aware of the album's performance on the charts, not everyone knows it sold 10 million copies; only the fans know that, and not even all fans. To most people it was a flop because that's what they've been told, so people will continue to underestimate him based on what they hear over and over again.