It’s entirely possible.
To be a bit more specific for the sake of clearing any confusion on the matter, when a pokémonologist refers to evolution, they could be referring to one of two things. There is, of course, metamorphic evolution, which is the process by which one pokémon transforms from a juvenile form to a more adult form—such as, for example, the transformation from a bulbasaur to its ivysaur stage.
However, there is also Darwinistic evolution, which is, of course, the transition from one species to another by way of millions of years of adaptation. Pokémon are the only beings on Earth capable of both, and as such, present-day pokémon are actually descended from long evolutionary trees dating back to prehistoric ancestors of completely different species. For example, every vulpix is actually related to growlithe, poochyena, and more by way of a common ancestor. (There are, of course, plenty of others. Even pokémon such as ponyta and rhyhorn, which one would think are not related at all, branched off a common ancestor in the very distant past.) Each species simply diverged from one another by way of differing adaptations according to their needs and habitats.
That’s why vulpix and other pokémon with “Alolan variations” are so fascinating to pokémonologists, actually. It stands to reason that, just as rockruff and growlithe diverged from a common ancestor, vulpix will someday diverge enough that its ice-and-fairy-type form and fire-type form will create entirely new species. This will perhaps not occur in thousands of years but rather millions, as Darwinistic evolution is slow, but it will happen someday.
So I suppose the final answer to all of your questions is … yes.