Tay dropped "The Tortured Poets Department" Friday, and in her song, "Clara Bow," she sings about being compared to the silver screen starlet and the Fleetwood Mac frontwoman. However, by the end of the song, Taylor claims her identity as a megastar ... hinting she's reached legend status like the stars mentioned in the song.

She sings ... "You look like Taylor Swift // In this light, we're lovin' it // You've got edge, she never did // The future's bright, dazzling."

While there's no denying Taylor's impact on the modern music scene -- her 'Eras' tour brought in over a billion dollars -- it does come off a bit boastful to declare yourself a living legend.

If we're going off numbers alone ... Beyoncé has 18 more Grammy wins than Taylor. So, maybe the legend label is a bit preemptive??? Then again, rappers do this sorta thing all the time.

Though Stevie is clearly unbothered by Taylor suggesting she's on her level -- SN actually wrote the opening prologue poem for the vinyl/CD version of 'Tortured Poets.'

In a handwritten note, Stevie dedicated ... "For T and me…."

The poem explored the events of a tragic relationship -- Stevie wrote, "He really can’t answer her / He’s afraid of her / He’s hiding from her / And he knows that he’s hurting her."

This isn't the first time Stevie's shown support for Taylor. Remember, in 2010, Stevie wrote Taylor's tribute in TIME's Time100 series.