There's a huge difference. A Baptist believes in the account of the New Testament, a Modernist does not. That's a huge difference.
Belief in the historicity of the New Testament, or any part of the Bible for that matter is not indicative of one's orthodoxy. So long as one assents with faith those doctrines revealed in it and interpreted infallibly by the Church to be divinely inspired, that is sufficient.
False religions have elements of truth. A Baptist who accepts the account of the Gospels as history has a great deal more truth than a modernist.
Have elements of truth? Yes. Can be salvific? Nnnnnope. Again, the historicity of it is not at issue here.
Obviously such an argument can be made, and it turns out you're willing to make it after all.
It is heresy to deny that heretics can have valid Baptisms.
But some Feeneyites have a tendency to try to cast doubt on all such Baptisms. It is definitely a heretical tendency on their part.
I'm not a follower of Father Feeney, nor do I deny the doctrine of the Baptism of Blood. Also, I stand by my assertion that such argument of whose more a heretic is irrelevant; my assertion concerning modernists had to do with their culpability, not their degree of error. Lastly, I, in
no way denied that members of heretical sects
can have valid baptisms; I've addressed the case with Methodists, and the same can be said for the Orthodox, the Lutherans, and some Presbyterians. I delivered not a single definite statement supporting the negative. I merely pointed at the Jehanne's position that all baptisms, by virtue of form and matter, are automatically valid is theologically incorrect.