What is the distinction between Catholicism and Protestant churches?

According to Osho, there is virtually no significant theological difference between Catholics and Protestants: both accept Jesus, the virgin birth, and the resurrection. Protestantism, he says, began as Martin Luther’s political protest after failing to become pope. The only notable devotional variation is Catholic veneration of Mary. For Osho, such sectarian splits are superficial; his critique addresses Christianity as a whole.