In my opinion edge floods his sound with wah and other effects to make up for the fact that he can't manipulate the sound through technique. Effects are great but should only be used to enhance or slightly modify the sound of the guitar, not create a completely different sound which is hardly intelligible. I can turn my tone way down, play on the front humbucker, push the wah pedal all the way back and add a delay so that you get a major flood of muffled noise that might be in key, but that's something I've been able to do for 10 years. Guitar is about the continued learning and innovation of an endless array of techniques and styles. Most of the edge's stuff is based off techniques and styles which he has employed for quite some time, but I think the true great guitarists learn from all different styles and instruments and take that influence and embrace it. I would not classify myself as a great guitarist but I certainly take queues from as many styles of music as I can from shred guitar and death metal to bluegrass and country all the way to jazz and the blues, and I try not to write off any style of music without giving it a real chance and studying its style. There are so many different things that you can do with a guitar that it is a shame to just quit at one style that you like or are content with playing. You have to strive to amaze yourself. I just don't think the edge has taken the guitar seriously as something which you must continuously work at and push the bar higher and higher.
That said, I also think there is beauty in simplicity, but there are plenty of artists I like to listen to that I would not classify as great, just because I like their songs. I am trying to take an objective approach to measuring skill as a guitarist, and not be biased based on personal opinion. Singers are classified as great if they have good vocal skills and styles, but most of the "great" singers don't write their own songs, so I think you have to separate songwriting from use of technology from creativity from skill from stage presence from good looks from community interaction. Each of these things is an area to gauge greatness in itself and indeed much of that has everything to do with popularity and success in addition to ambition. The point here is that if you want to measure the greatness of a guitarist, I think you measure skill at playing and knowledge of the instrument. If you want to measure artistry and showmanship, or skill as an entertainer then perhaps you take into account multiple traits outside the ability to play guitar.
So maybe I'm stuck on nomenclature, but I really wouldn't put the technical skill required to play the fly solo anywhere close to what you would need to play malmsteen's far beyond the sun or anything liquid tension expirement did. Anyone can wail on one note repeatedly and bend it, it might as well be a creed solo.