Yes, the Catholic Church has traditions that others may not like, or agree with, but those don't detract from the fact that God is our Father, Jesus is His Son, and both God and Man, and that the Holy Spirit is the Love of God which He sends, to dwell within us, keeping us ever mindful of that Love. Just as Peter was told 'feed my flock', the Holy Spirit guides the Church to choose a Pope who will continue that work, and guide God's people to lives of faithfulness and to salvation.
This is the beauty of the Church; there is that stability, guided by the Holy Spirit, and it is something to which Catholics can always look, for comfort in an ever changing world, and know that God is there.
No, it's not, it's organizationally based. The Church preceeds the existence of the Bible. Church decisions are not determined by the Bible but by the Pope. Jesus metaphorically torched the OT scriptures so badly the people who were (at the time) scripture-based crucified him for it.
When Joel Olsteen (a great guy, btw, I try to catch his program) tells his parishners at the end of his service to go find a good Bible-based church, he's not talking about us.
By your reasoning, Judiasm is also Bible-based (Old Testament).