No doubt some Catholics are crowing over the fact that Pope Francis was named "Person of the Year" by Time magazine. But if you think about it, that's quite a comedown. Typically, it's only significant when a social superior confers an honor on a social inferior, thereby raising his status. Popes used to be king-makers and king-breakers.
Keep in mind, too, that Time magazine isn't the pop cultural icon it used to be, back in the heyday of Henry Luce. Time magazine is hemorrhaging sales and subscriptions. Going the way of other jurassic media like newspapers and network news anchors.
So you have a diminished pop magazine honoring a diminished papacy.