These people do not want to give up final authority. As long as they are convinced that God has NOT preserved His word today, then they can use their own intellect in determining what saith the Scriptures.
why believe the King James is the final authority? to me it looks like one of many English translations. it became highly influential by time and chance. it was adopted by the church of England at a time when the British empire was just beginning to rise.
From north to south the princes meet
To pay their homage at His feet,
While western empires own their Lord,
And savage tribes attend His word.
Isaac Watts