It is also exactly the style of music that Crazy Horse has always created.
Neil Young is from the 60's folk-rock scene and then distorted it. He's not punk, he's not rebelling against the technical guitar solos of the 70's. He's rhythm guitar guy who sometimes plays not very technical solos with the skill of a 1960's rhythm guitar guy.
Like I said, I think much of the similarity of their clothing style and sound is largely coincidental. Working class dudes playing rock. Their genres overlapped, and they wear similar clothes.