The following is a quote from "The Truth vs. the TRUTH" by Dr. Stephen Cox, Prof. of Literature, UCSD*:
Can the Society, or anything like it, have a future in an Internetted world?
Perhaps. There are several options available to it. The most obvious is to do what Raymond Franz tried to get it to do, a quarter-century ago: admit it was wrong. But this, of course, is the least likely option to be taken. Only one modern American institution has ever admitted that it was fundamentally in error — the Worldwide Church of God, an Adventist church that, influenced by the Witnesses, once referred to its members as "in the Truth," and to everyone else as out of it. During the 1990s, the WCG leadership surveyed its distinctive teachings and announced that they could not be squared with the Bible. The reward for its courage was the loss of 50–60% of its membership. This is an example that the Watchtower Society will be very reluctant to follow.
It is much more likely to choose one of two other options, roughly the same two that confront all other truth-challenged institutions in the modern world.
The first option is for the Society to keep trying to isolate its own version of truth from the checkable truth of the Internet. If it does that, the Watchtower movement will become a living fossil, a fellowship confined to people who, like the Amish, are content to remain in a world that predates the net.
The second option is for the Society to adapt its version of truth, bit by bit, to the fact-gathering capability of the Internet and the free society that the Internet exemplifies.
This second option is almost certainly the one that will be taken. Like other earthly authorities, the Society has a will to live at almost any cost. It will try to live even if the cost is a quiet coming to terms with its own mistakes. The real question is whether the speed of the Internet will give it time for an orderly evolution. We have seen, in Eastern Europe, how quickly glasnost can be followed by oblivion. The crucial factor may be the morale of the leadership, its ability to live with the same truth that normal people live with, while simultaneously acting as if it were still in possession of its higher truth.
*Complete article here: http://libertyunbound.com/archive/2003_10/cox-truth.html
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So far, the WTS is utilizing the first option.
I don't see them able to put the second option into practice. The Watchtower depends on having an inside track with the Almighty - without that illusion, they are nothing.