This strat is banned form the speedrun leaderboard, so the actual WR is still 2:23 (also completely insane). The fact that this is completely working as intended just shows that this game absolutely nails destroying reality with complex magic.
I believe it’s technically possible to get a wand with that many slots, though it’d be unbelievably rare, and it would definitely not have anywhere near that much mana; I don’t know how much mana you’d actually need to cast this (it’s actually probably pretty reasonable because of all the triggers, though.) My understanding is that it’s like 1 in 10,000 to find a wand that can potentially have more than 26 slots, then you have to actually roll those slots, so it’s astronomically unlikely. It would be interesting to see a speedrun category that could only be finished using this exploit, and where the wand had to be built legitimately during the previous run. The 2-second one wouldn’t be reasonably possible, but one of the more reasonable ones would.
That’d be particularly interesting since it wouldn’t be about building the perfect wand, just a functional one with what you could find (since even if it was very slow to work, it’d still be faster to make an inefficient one than to keep looking for a perfect one), and would require ridiculous mastery of wand construction to put something together on the fly.