You may be right. I can't imagine an idea as doomed out of the gate as repealing the mortgage interest deduction. Which leaves something that falls a little short of "reforming" the system, but might be better than no improvement at all.
It did occur to me that some of the coming negative consequences of a failure to reform that the Committee warns about may not look half bad to some people. The AMT problem could generate a gusher of tax revenue that's needed to offset deficit spending, so some politicians may figure it's best to just quietly do nothing as an alternative to the poitically unpopular act of raising taxes. There's an unintended consequence of tax policy for you: Reforming the system leads to a need to raise the (reformed) tax rate.
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re: It may not be worth the effort.