So, what's MORE at issue is whether a Protestant is capable of having supernatural faith. That is the real question. Baptism by itself does not put him into a state of grace that remains until mortal sin ... if he is not capable of having supernatural faith. So I think that this is the wrong question. We need to discuss whether or not it is possible for a Protestant to have supernatural faith.
I hold that it is not possible for a Protestant to have supernatural faith. Now, is it possible that there's some person so befuddled and so ignorant that he does have the core basics of the faith in such away that it's not uprooted? I cannot necessarily rule that out. But in that case, he would in fact be a Catholic and not a Protestant. But I would consider this ... if it's possible at all ... to be incredibly rare, and I hold that God WOULD in fact lead such a one into the Church if he were properly disposed in this way.
So, for instance, let's say some Prot minister goes to the jungle, teaches a person about the basics, the Holy Trinity and the Incarnation, and then proceeds to baptize him after he comes to believe him. This person has no clue about there being Catholicism or Protestantism or any other such details. At that point, the baptized man is a Catholic. But as soon as he begins to learn about the various Prot heresies that uproot faith, then he would lose the faith. Is there some Prot who's so ignorant and befuddled that he's in a similar state as this savage in my example, who just knows the basics and hasn't had his faith polluted and uprooted by heresy? In other words, can there be such a thing as a Prot who's a purely-material heretic? As I said, I can't rule it out, but believe that God leads all of His elect into the visible Church. But those Protestants who believe in faith alone and Sola Scriptura are formal heretics because they have their belief system founded on a false rule of faith that ultimately reduces to their own private judgment. Formal heresy deals with the WHY of belief, while material heresy deals with the WHAT of belief. If you had a Protestant who just so happened to believe every single Catholic doctrine because he deduced them from the Bible, he would still be a formal heretic, since the REASON he believes them does not suffice as the formal motive of supernatural faith. He would merely have a correct natural faith, but not a supernatural faith.