The deposit of faith is guarded by the Church and certain doctrines develop over time, but nothing new is invented. The verse in question could more easily be applied to non-Catholic churches, particularly those which espouse a doctrine of hate and ignorance against others. The Catholic Church has no authority to put aside God's laws. You need no corrupt teaching authority outside the bible to tell you what it means. The Holy Spirit will guide you in all truth.
Papal infallibility is another construct to imprison the minds and consciences of people.
The fracturing of Christianity invalidates the interpretation that certain Fundamentalists give to these bible passages. The Holy Spirit does indeed protect the teaching authority instituted by Christ to insure that we continue to walk in Christ's ways. Otherwise, all would be an ocean of confusion. The condemnation, the anathema of God, comes down upon those who attack and deride the ancient Catholic Christian People of God.