If anything, I'd rather see Islam become more Catholic. (And for that matter the Protestant Reformation largely reversed while we're at it).
Boo hiss.
But yeah, I agree that Islam would do well to actually become more hierarchical (as the Catholic church used to w/ Christianity and still does to a lesser extent). If a worldwide fatwa against terrorism could be made that was perceived as binding upon all Muslims, then it would definitely help clamp down on terroristic interpretations of the Koran/Hadith.