Protestants Have a Magisterium and Pope Too. They Just Won't Admit It.
They claim their only authority is from God's word, but in reality, the authority in their lives is from the interpretation of God's word by way of their denomination or pastor. Their denomination is their magisterium and if they submit to their individual pastor and his interpretation of scripture, he becomes their pope, so to speak. If they deny they submit to anyone, and that God alone is their own authority, then by default they are electing themselves as pope. Listen to the host Chris Fabry:
"Where I get the authority, for me, it comes straight from God's Word and I put myself under the authority of Jesus and those who are in authority over me, you know, people....but there is no, um....I don't have to have anybody between me and God. Right?"