How it it irrelevant? It states that the Apostolic Church of Rome will never lose the faith:
For this is the rule of the true faith, which this spiritual mother of your most tranquil empire, the Apostolic Church of Christ, has both in prosperity and in adversity always held and defended with energy; which, it will be proved, by the grace of Almighty God, has never erred from the path of the apostolic tradition, nor has she been depraved by yielding to heretical innovations, but from the beginning she has received the Christian faith from her founders, the princes of the Apostles of Christ, and remains undefiled unto the end, according to the divine promise of the Lord and Saviour himself ... Let your tranquil Clemency therefore consider, since it is the Lord and Saviour of all, whose faith it is, that promised that Peter’s faith should not fail and exhorted him to strengthen his brethren, how it is known to all that the Apostolic pontiffs, the predecessors of my littleness, have always confidently done this very thing: of whom also our littleness, since I have received this ministry by divine designation, wishes to be the follower, although unequal to them and the least of all.
Afraid he'll clean your clock are you?
The "Old Catholics" are a joke.
"The 'Old Catholics' are a joke" Trying to pick a fight with another denomination are we?