Is the hadith: "There is no Mahdi except Isa (Jesus)" authentic?

This hadith was narrated by Ibn Majah, and most hadith scholars have deemed it weak, among them Al-Bayhaqi, Al-Hakim, Ibn Taymiyyah, Ibn Al-Qayyim, Al-Dhahabi, Al-Qari, Al-Shawkani, and Al-Albani.

Even if this hadith were authentic - which it is not - its meaning would be that there is no perfect or infallible Mahdi except Isa ibn Maryam. This does not contradict the emergence of the Mahdi at the end of time, who will meet with Isa ibn Maryam (peace be upon him), and Isa will pray behind him as a follower. Therefore, sound hadiths should not be contradicted by such a weak hadith.