Peter’s authority to exercise discipline concerning right and wrong conduct in the church is extended to all the apostles and the church as a whole (Matt. 18:18, John 20:23). Jesus delegates authority to human leaders in the church who are called to govern, under his ultimate authority, through application of his word.
So as we can see the church is built on the foundation of ALL the prophets and apostles, however, Jesus himself remains the cornerstone (Eph. 2:20). This it seems to me is the better view concerning this issue.
As far as dynastic progress for the king’s steward … I have no idea where you derive that notion from? Certainly the king always had a steward (who had the authority to act in his stead); however, there’s no reason to infuse concepts like dynastic progression, which only apply to the monarch himself, to the story of Shebna and Eliakim. Rather the typology stands for the idea that the church (build on the foundation of the apostles) is Christ’s steward. The preponderance of scripture supports this – and your reading is only possible if you take Isaiah 22 and Matt. 16 in complete isolation; and ignore the totality of Jesus’ teachings on this issue & how the role of the apostles and the church were shaped by Christ throughout the gospel.
What’s happening here? Well, in verse 19 it says, “I will thrust you from your office and you will be cast down from your station and on that day I will call my servant Eliakim, the son of Hilkiah, and I will clothe him with your robe and will bind your girdle on him and will commit your authority to his hand, and he shall be a father to the inhabitants of Jerusalem and to the House of Judah; ]and I will place on his shoulder the key of the House of David.”
**Now the House of David is like, you know, the House of Bourbon. It’s a dynastic reference. The House of David is the Davidic kingdom, the Davidic dynasty. We know this because David has been dead for hundreds of years when this is happening in Isaiah 22, “I will give you the key of the House of David. He shall open and none shall shut, and he shall shut and none shall open. He will become a throne of honor to his father’s house.” **Look at all of the symbols of dynastic authority that are being given to this individual. First of all, an office. Second, a robe. Third, a throne and fourth, keys, the key of the House of David, these royal keys.
The above passage I quoted states that at the time the events in Isaiah 22 took place we are already hundreds of years past David’s kingship. Also, the prime ministerial office given to Eliakim is stated as such:
“and I will place on his shoulder the key of the House of David”.
How would you define the “House of David”, is this not referencing the Davidic kingdom, and as such a Davidic dynasty. Hence the Prime ministerial role has always been alongside that of the King’s.
Now what power does having the keys to the House of David hold:
“I will give you the key of the House of David. He shall open and none shall shut, and he shall shut and none shall open. He will become a throne of honor to his father’s house.”
Notice the singularity of authority, there is no mention of others, to further make you understand that this implies the role of the Pope, read this:
Now, Eliakim is a minister in the cabinet, but now he is being granted the Prime Minister’s position. How do we know? Because he is given what the other ministers do not have, the keys of the kingdom, the key to the House of David. That symbolized dynastic authority entrusted to the Prime Minister and dynastic succession. Why? Because it’s the key of David; it’s the House of David.
It states that only Eliakim as Prime minister was given the keys to the House of David, not the other ministers (although they too exercised authority just not the authority that was given to the Prime (meaning first) minister) so you are wrong in suggesting that the keys of the kingdom were given to all the Apostles (loosing and binding, yes, but not the keys).
Peter is not subject to anyone in the NT, we notice many times throughout scripture how he is put first, it was Peter who was first to recognize Jesus for who he was (yes, through the Father he was able to know this, hence his infallibility, this is a foreshadowing in scripture that the Father speaks through Peter first, pope, and then the others, that make up the magisterium), Peter who stepped out onto the water during the storm, Peter who first addressed the crowd at Pentecost and as such the first to convert the first Christians, the first to heal, the first mentioned whenever the apostles were mentioned in Scripture, give you an example,
"Peter and the other apostles (see how he’s singled out) replied “We must obey God rather than men!” Acts 5:29
And how about the story of Ananias and Sapphira, it was Peter that recognized they were both lying, not the other apostles.
“Ananias, how is it that Satan has so filled your heart that you have lied to the Holy Spirit . . .” Acts 5:3
Also, the story of Peter’s vision (why was Peter given the vision if not because he was given an authority separate from the others), demonstrates the command he has over the people of God, see how they react when he explained to them that even the Gentiles would receive the Holy Spirit:
"When they heard this, they had no further objections and praised God, saying “So then, God has granted even the Gentiles repentance unto life.” Acts 11:18
He had an authority singularly his own, that none of the other apostles shared, however, the Magisterium is necessary in terms of manifesting doctrine.