This philosophy was developed because people wanted to be able to say that somehow there is absolute certainty in what the book says. This is a necessary approach because they themselves did not have authority to teach the word of God or administer the church. Likewise it was necessary to develop a teaching this says that anyone that follows the Bible is part of some universal brotherhood or invisible body of believers that represents the body of Christ.
The teachings developed by religious scholars and philosophers condemn all human souls that don't measure up to their concept of salvation of accepting Christ even if they never knew of him. For man to assume that he had authority to do so and not really have it did not thwart God's plan. Just as Christ's Atonement, which is his sacrifice for sin and his resurrection were foreordained before the earth was created, so to was the restoration of his gospel. He will bring all things together in one under Christ in the latter days, which is now.
God is not a respecter of persons therefore all men and women must receive the same message and the same ordinances pertaining to salvation by someone with authority to perform them. Joseph Smith went to God in prayer and He came to Joseph in person and sent messengers to authorize him. In the religions of men, they chose themselves and authorized themselves using the Bible as a basis for their justifications.