Yes, a sort of "equilibrium" position can be attained. However, this is rare since the environment might be changing constantly as well, and perhaps even faster than the formation of new species. Furthermore, mutations continue to appear randomly and some mutation might still be advantageous over the predominant phenotype even if the the species are very well suited for their niches. In the course of natural history, the appearances of new species is, in fact, not evenly distributed over time, but shew long stretches of very little change punctured with explosions of a plethora of new species, and these explosions usually follow some cataclysmic environmental changes.