I think the limiting factor will be the inductance of the wire and lightbulb filament, which sustains a current even when the switch attempts to break the circuit!
Ooh good point! Whatever kind of light bulb it is, it will (through inductance, thermal mass or fluorescence) continue to glow (which I’m counting as being “on”) for at least 1/60th of a second after losing AC power. So I’d say it will be glowing quite a lot at the 2 minute mark even if the switch components are forming their own singularity right nearby.