I guess what this means is that although today is celebrated as Reformation Day, it's Reformation Day every day somewhere, for somebody, as the underlying Protestant theology plays out through time and an individual, personal thesis is nailed to a church door somewhere.
Whether this is a suitable model for the propagation and safeguarding of revealed truth is a question which I'll let others decide.
“This can be and is a progressive process which may be repeated over time leading to an ongoing evolution of thought and beliefs.”
Sure, but the alternative process is also a progressive process, even if its adherents do not like to admit as much. The difference is, that at some points, the progress is frozen in place by putting some questions “off limits”, and placing them in the category of dogmatic truth, then labeling as heretics anyone who continues to hold a contrary opinion.
Then, the remaining believers can say “we’ve always believed these things”, and if you point out that they hadn’t, they have the fall-back answer of “well, those people were heretics”. It’s all a very nice rhetorical trick, but I don’t think it changes the reality of the situation at all.