I believe the WT can survive if the WT stops teaching that Jerusalem was destroyed in 607 BCE, begins teaching Jerusalem was destroyed in 587/586 BCE instead, and if the Watchtower stops teaching that the Gentile Times ended in 1914 CE. Furthermore, I think the WT should make those changes.
The WT could still correctly say that they correctly proclaimed for decades prior to 1914 that the year 1914 would be a time of great trouble - even that by the year 1914 numerous European nations would be fighting themselves in a massive war (I saw a quote of Russell for this but I need to find it to present it as a reference). They can thus still teach that the year 1914 was a huge turning point in human history. They can also still teach much of what they say about 1918 and 1919, including the teaching that the directors of the WTS having been sent into prison and later released and the idea that Jesus Christ selected them. They also have to give up the teaching that Christ is now ruling over the Earth, but doing so could help them since it would allow them to consistently say that the 1,000 year reign of Christ begins in the future when Christ begins his rule as king. They also would have to give up the teaching that the resurrection to heavenly life has begin, and thus they would have to teach that Russell, Rutherford, Knorr, Franz, etc. have not yet gone to heaven. Since the above teachings are interrelated they would have to be introduced in the same issue of the WT so the teachings could be see as being consistent with each other.
The WTS and the JW governing body should start emphasizing that not even they know the day, hour, or even the year or decade in which the great tribulation will begin, nor the year when Armageddon will begin, nor the year when Christ will come in judgement, nor the year when Christ's kingdom of 1,000 years will begin. They can continue to teach that those events are looking increasingly much nearer, as evidenced by world events.
If they make the above changes, along with teaching that the scriptures show that Jesus Christ is in some sense also Jehovah/Yahweh and can thus be worshiped by JW that will make the WTS/JW much more in agreement with the Bible and much more credible to those Christians who are not JW. The changes would also reduce the cognitive dissonance of many JWs. Furthermore, if the WTS were to start teaching that the 144,000 is a symbolic number instead of a literal number, that JWs in good standing are encouraged to partake of the memorial emblems in obedience to Christ, that the other sheep class are gentile believers in Christ (with the little flock class is Jewish believers in Christ, at least in regards to first century CE Jewish believers in Christ), and that those who will rule with Christ for 1,000 years will be on Earth after the 1,000 years (and possibly also during the 1,000 years, though not during the battle of Armageddon), that will also help the WT/JW religion to grow and resolve a number of conflicts in their interpretations of the Bible.
The above is a way out I see for many of the WT's problems if they adopt the views I stated above, but they would also have say (like the religious Jews and others) blood transfusions are OK, they would have to correct their policy pertaining to child abuse cases (including the two witness rule), and they would have to soften their policy of JWs shunning their ex-JW family members who left by disassociation. Doing the latter (regarding disassociated ones) would allow those who secretly disagree with the WTS, namely many of the PIMOs, to leave the WT with a much 'spiritually cleaner' organization - one consisting almost entirely of loyal followers who are also true believers.
If the WT were to make all of the above changes and if hypothetically if I would stop being an atheistic naturalist and to believe in the Bible and Christianity again (changes in my convictions which I don't conceive as being possible) I would might would start being an active JW again, and possibly other ex-JWs would also. But, the WTS would also have to stop being manipulative and stop being highly controlling.
nicolaou, I think it is interesting that you say the following. "jw.org is not the old Watchtower Society. They can discard any doctrine they like now, no-one cares." When I was a believing JW, doctrine (in regards to major ones, not what was minutia to me) was important to me.