I can see that if we're not being serious about "indie". Which, to be sure, perhaps music taxonomy shouldn't be taken seriously.
That said, I consider R.E.M. to be more the domain of college rock, alternative, and jangle pop. Most of the time, R.E.M. was on a major label, so not really indie.
To be sure, R.E.M. was on the I.R.S. label who—at one time—were independent. However, since I.R.S. have CIA connections (seriously, that's a wild rabbit hole), I revoke their indie status.
