It can do so, but it will not do so.
Letting fly with charges of heresy would be a quick way to destroy whatever respect and esteem the church has with secular world.
"18) If the world hate you, know ye, that it hath hated me before you. 19) If you had been of the world, the world would love its own: but because you are not of the world, but I have chosen you out of the world, therefore the world hateth you". John 15
I think Pope Francis believes otherwise.
Interesting. If the Church tries to keep its leader in line with their religious foundation, it will lose respect with those who disagree with it?
At the local church, adults are attending mass in T-shirts and shorts while the priests conduct mass in beautiful, very un-Christ like garments. The respect and esteem is no longer there, from its members all the way to the top. In its quest for members, it lost its way.