Ordinarily a goal of singleplayer career modes, enshrinement in the Hall of Fame will now be a feature of NBA 2K11's Association, the franchise management and season-simulation mode.
That image carries a disclaimer because it doesn't reflect a screen from the game - it's apparently a marketing-only pre-render. And while the Naismith Memorial Basketball Hall of Fame in Springfield, Massachusetts. has given its symbols for use in NBA 2K11, that bust there is not a depiction of the real life award. So it remains to be seen what this will entail.
Word has it that Hall of Fame enshrinement will be a part of My Player, the singleplayer career mode, but it will differ from its presentation in Association.