As long as TLS/SSL depends on Internet PKI as it is, it is flawed. I guess there's always Private PKI, but that's if you're not interested in the internet (^:
TLS doesn't care what's in the certificate even if you use certificate authentication (which you don't have to for either side). Photo of your 10 metre swimming certificate awarded when you were seven? Fine. MP3 of your cat "singing along" with a pop song? Also fine.
Now, the application using TLS probably cares, and most Internet applications want an X.509 certificate, conforming more or less with PKIX and typically from the Web PKI. But TLS doesn't care about those details.
