Torres will be remembered for being a good player but he isn't a legend.
It's up to any individual who they consider a legend or not.There's no real definition of what it is. Personally I think it's a small group of players who get into that bracket.
IMO there's no way Torres is a legend. He was a very good player but we've had loads of them. The fact he didn't win anything with the club is almost certainly not his doing or a reflection of his ability. We can enjoy and appreciate his talent and contribution without trophies but ultimately I think you need both the talent and the significant contribution to multiple trophies to be classed as a legend.
That's why the likes of Suarez, Torres, Coutinho, Mascherano can't be classed as legends in my opinion despite being some of the best individual players to play for us in the last 30 years. In my opinion (and others will disagree), I think Gerrard is the only bona fide legend from the last 30 years (not including John Barnes in my thinking since his best was >30 years ago). I think you could have an argument to include Fowler, Carragher and Hyypia at a stretch, They've all played at an elite level, for at least part of their career, and contributed towards multiple trophy wins. Though I'm not sure all 3 would have a reasonable shout for being included in our best XI from the last 30 years (Fowler definitely isn't with Suarez, Torres, Salah all better forwards - arguably Owen too).
There will definitely be players from the current squad who have a chance as being classed in the legendary status (as per my personal definition). I think Trent, van Dijk, Salah and Mane have the biggest claims but a lot will depend on what happens in the coming seasons. That's not to denigrate any contribution by any current player in the squad. All of them, to varying degrees, have been great players for the club and hugely influential in our success. Personally though I view legendary status as that absolute cream of the crop, the players who were the driving force behind the team winning trophies over the course of years and players who you felt were emblematic of the team and club at that point. That's why it's only a select number (probably 20-30 max in ever) who reach that status in my eyes.
EDIT: This is the Gini thread so probably should have said where he sits. He's not a legend of the club in my opinion but he's been so important over the last 5 years or so. In terms of legend status he's much more worthy of that than Torres, Suarez, Coutinho, Mascaherano. Arguably more than Alonso, Fowler and others given his key contributions to both a CL and PL title.