Christianity long ago degenerated into individualism and relativism. This is the nature of sola scriptura. Everyone has their own Bible and each person comes to different opinions from everyone else. At this point, the Bible-wielding believer either comes to the conclusion that their interpretation is right and that everyone else in the world is wrong, or they become a relativist, deciding that it is impossible to know the truth and that everyone’s truth is correct to some degree.
This is a very bad thing. The Faith is not a matter of personal opinions and subjective speculations. Individualism has been the destruction of the Christian religion and has led to the current state of our society. As to its affect on humanity, you need only look around at what is going on in our culture. When Christianity is a religion for everyone to pick and choose, then it has no moral authority over the world. The Christian cannot enforce their personal doctrines on someone else, so they are dismissed as an idealogue whose personal opinion is no better than anyone else’s.
An individualist egocentric world view is not Christian. Christianity is a corporate and theocentric religion. The result of individualism is complete moral and theological relativism and indifferentism.