If that is true, it simply means the RC church is led by a bunch of ineffectual, misguided bishops.
And these are the guys you look to for Scriptural understanding?
I would not look to any modernist for Scriptural understanding, but the Catholic understanding was fully determined through the Holy Spirit as criteria for establishing the NT canon in the forth century. The Early Church bishops were certainly not modernist and they fought many heresies of their own time that made use of apocryphal Scripture. In response, the bishops removed any gospel or epistle not fully compliant with Catholic doctrine.
Anyone who accepts the NT canon must necessarily accept the criteria used to establish that canon. Any private interpretation of Scripture that conflicts with the interpretation ensconced in Sacred Tradition, is out of line with the criteria of the NT canon.
Bishops of today, whether they are misguided or not, have no authority to re-interpret Scripture in opposition to Sacred Tradition. Nobody has that authority.