Ploverwing, is your view a consensus among Protestants, or do some denominations simply want to dismiss him as a naive idealist who didn't condemn the corruption of the Church??
The fundamental problem of speaking about "Protestants" and "Protestantism" is that when you get right down to it, there's no such thing. The term "Protestant" originally referred to a group of German princes who made a formal protest against the Holy Roman Emperor at the 2nd Diet of Speyer, an act known as the Protestation at Speyer. The term "Protestant" then came to refer to both the evangelical (Lutheran) and reformed (Calvinist) groups, and ultimately also to the radicals and Anabaptists. The term stayed to refer to later post-Reformation groups, such as Methodists, Baptists, and later still, Pentecostals, and others. Meaning that the term "Protestant" has become a general catch-all term to refer not just to the original reformers, but generally all Christian groups that directly and indirectly came about from the Reformation.
To speak about "Protestant" beliefs, or to try to give any kind of answer as to the belief, ideas, or practices of "Protestantism" is probably impossible to answer.
Lutherans are Protestant, but our beliefs and practices look an awful lot like Roman Catholicism because Lutheranism wasn't a rejection of Catholicism, it was a movement of reform within Catholicism. As such we did not reject the historic teachings and practices, instead we pointed out that there were some things going on and being taught which we felt were deeply problematic. It is a deeply unfortunate fact of history that Lutherans and [Roman] Catholics are not in communion with one another, schism is not something to celebrate. The 1500 years of Christian history prior to the Reformation is still our history as Lutherans, as such we give honor and respect to the historic saints, fathers, and doctors of the Church, we confess the Creeds, we retain the feasts, observances, and rites which have been handed down to us from ancient times. We have no reason not to, they are part of our history, tradition, and faith.
Compare that with another Protestant group which regards the Catholic Church as an apostate institution which completely abandoned the "true" faith of the apostles, and the results are drastically different.
Both groups will be called "Protestant" but believe radically different things because they are not even remotely similar to one another.
A state of affairs that often leaves us Lutherans sometimes eschewing the term "Protestant" because of the modern baggage attached to the word that does not accurately reflect our history, theology, and practice.
-CryptoLutheran