If the Catholic position were to be "watered down", which is already well on its way but not "official yet", the Church will disintigrate to all but a remnant.
God help us.
I do not worry about the Church watering down its Teachings. I believe Christ had a protective mechanism in mind when He said to the Church "whatsoever you shall bind upon earth, shall be bound also in heaven: and whatsoever you shall loose upon earth, shall be loosed also in heaven."
If Christ knew that the Church will make what is erroneous, as binding on the faithful, He would never have said this-after all, Heaven will not hold as binding what God sees as "wrong". Christ knew that He will give His Church a quality that no other institution has: infallibility. By that promise of Christ, we can be 100% secure that what the Church teaches as binding, is indeed binding even in Heaven.