Laying the apostolic foundation is not the role of a bishop. The intent of Paul was to establish one or more elders in a local church to guide new believers into the faith. What you call a "bishop" is not a bishop in the Biblical sense. The elder, as Paul called it, has a teaching and advisory role. Whereas the so-called Catholic Church has given the catholic bishop power and authority, the Biblical elder has no power or authority.
Matthew 28:16-20
But the eleven disciples proceeded to Galilee, to the mountain which Jesus had designated. When they saw Him, they worshiped Him; but some were doubtful. And Jesus came up and spoke to them, saying, “All authority has been given to Me in heaven and on earth. Go therefore and make disciples of all the nations, baptizing them in the name of the Father and the Son and the Holy Spirit, teaching them to observe all that I commanded you; and lo, I am with you always, even to the end of the age.”
Power and authority reside in Jesus Christ. As he said, "All authority has been given to me in heaven and on earth." His authority is inalienable and can not be transferred to his apostles or bishops or anyone else.
In addition, he instructs the apostles to baptize in HIS name, making disciples for Jesus Christ. If the apostles or anyone else should perform the ritual of baptism, they are obligated to make it very clear to the new convert that they have become students of Jesus Christ, not students of the baptizer. Elders are guides and teachers without authority to command anyone. We aren't obeying anyone except Jesus Christ.
Galatians 1:8-9
But even if we, or an angel from heaven, should preach to you a gospel contrary to what we have preached to you, he is to be accursed! As we have said before, so I say again now, if any man is preaching to you a gospel contrary to what you received, he is to be accursed!
Notice that Paul includes himself in his warning concerning false gospels. From this example we understand that belief-authority rests in the true message, NOT in the person. Even if Paul himself were to preach a gospel contrary to what he previously preached, the church of Galatia is not obligated to obey Paul himself. Why? Because the authority rests in the message and the truth, not in the messenger.
Paul is not talking about a Catholic bishopric. His instructions to Timothy are meant for his local church, encouraging Timothy to assign teaching duties to elders. Nothing here about an institution or an office. We have seen above, the liberty we have in Christ Jesus. No man, other than Jesus, has the authority to tell us what to do or what to think. Elders are guides.
There is no such power. Jesus didn't give the apostles the power or authority to bind and loose. No, that is incorrect. Rather, Jesus gave his apostles the ability to know what Jesus has already bound or loosed.