I also think it’s a bland way of explaining the eighth’s regeneration – “Oh he died in a war”. I like to think of the Time War as a bit more complex than that.
I believe the word you want is “mythic”. That’s one of the big reasons for the War being there: it creates a new myth, putting everyone — old and new viewers — on the same level, and suggesting unrecountably grand and mysterious things, creating a new wonder, a new quest for knowledge, a new drive for the show to realign it with its original appeal. Also, curiously enough, the War serves to “fix” the arguably unsatisfactory resolution to a lot of the original mysteries by ditching the Time Lords and Gallifrey, the revelation of which earmarked the end of the show’s original era, and the start of something arguably less intriguing.
Doctor Who’s about the travel; not the destination. Soon as you stop and resolve something, it becomes real; mundane. The magic’s gone, as is any driving force it provided. Which isn’t to imply that you can’t create a new driving force — since that’s just what Davies did. And what ho; it worked.
I just don’t know if fact can do any better than legend, for something like this.