Mtg Combo (Commander): Would it work? Rhys, the Redeemed
The 'combo'1 will work as you expect. The initial token is created without being legendary and all copies of that will share that feature.

From the Gatherer's rulings on Helm of Hosts:


  The token isn't legendary, and this exception is copiable. If something else copies the token later, that copy also won't be legendary...



1: Opinion time: I don't think I'd call it a combo on account of it not winning the game on the spot or going infinite and needing elfball-tier mana (a few more cards, like Altar of the Brood, would seal the deal but that's beyond the scope of this question).