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Even if mutations galore increased the genetic diversity enormously in a population or gene/allele pool, even to the point that every trait is changed for every individual and every gene has so many alleles you can't identify them, what you'd have is a motley crew of individuals that differ wildly from one another in all those traits, some large, some small, some with purple fur, some with scales instead of fur, and every possible combination. Clearly it doesn't ever happen.
And nobody says that it does happen or expects it to happen, except in a (very) long-term absence of any selection (which also never happens). It is even less realistic than your constant decline in diversity.
In reality the processes of mutation and selection tend to a balance (depending on population size). As we should expect, given that there is an element of negative feedback to selection and mutation is constant.
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Not only is there no "rate of evolution," there is no evolution as defined by the ToE.
Unfortunately for you you are not God, so reality is quite free to ignore your imaginings. And it does. Your refusal to consider any realistic scenario is only proof of your prejudice against evolution.
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abe: What you call speciation could never happen, which is a population with its own overall characteristics that clearly differentiate it from its parent population. (Of course it would have sufficiently diminished genetic diversity to make further evolution impossible, but anyway....
If we are restricted to the scenarios you imagine. However neither we nor reality are so restricted.