In this respect, the Catholics are aeons ahead of the JW's. The current pope has made it a practice to apologize for a lot of the bad things that the church did in the past. They don't call their adjustments "new light".
If the WT Society would ever apologize for its past, that would be a major miracle. The administrators are too proud or perhaps too afraid that by apologizing, they would lose their standing in the eyes of onlookers as "God's channel of truth". Just like the Pharisees who were afraid to admit that the works of Jesus were something special -- because if they did, the Romans would come and take away their influence and authority.
However, the Catholics still adhere to many policies that some view as hurtful or questionable.
Perhaps a better model would be the Worldwide Church of God (formerly led by Herbert Armstrong with assistance from his son Garner Ted). They came out and basically said that the entire tenet behind their beliefs was wrong, they were sorry - and they wanted a totally fresh start.
Such a radical move would cost hundreds of thousands of followers, but the candidness would be refreshing.