In the "Apostles' Creed" were they referring to themselves when they said "holy catholic church"?

I know that the stock answer concerning the identity of "the holy catholic church" is to say that it refers to the "Church Universal". But in all honesty, weren't they talking about Constantine's circle of bishops, loyal to Rome? Weren't they saying, in effect, that "we bishops that are signing this comprise the government of the Church Universal and we write its laws"?