It's not dynamic. It isn't our values in the sense of what we'd prefer right now. It's what we'd prefer if we were smarter, faster, and more the people that we wished we were. In short, it's what we'd end up with if it was dynamic.

Unless the FAI freezes our current evolutionary state, at least as involves our values, the result we would wind up with if CEV derivation was dynamic would be different from what we would end up with if it is just some extrapolation from what current humans want now.

Even if there were some reason to think our current values were optimal for our current environment, which there is actually reason to think they are NOT, we would still have no reason to think they were optimal in a future environment.

Of course being effectively kept in a really really nice zoo by the FAI, we would not be experiencing any kind of NATURAL selection anymore, and evidence certainly suggests that our volition is to be taller, smarter, have bigger dicks and boobs, be blonder, tanner, and happier, all of which our zookeeper FAI should be able to move us (or our descendants) towards while carrying out necessary eugenics to keep our genome healthy in the absence of natural selection pressures. Certainly CEV keeps us from wanting defective, crippled, and genetically diseased children, so this seems a fairly safe prediction.

It would seem as defined that CEV would have to be fixed at the value it was set at when FAI was created. That no matter how smart, how tall, how blond, how curvaceous or how pudendous we became we would still be constantly pruned back to the CEV of 2045 humans.

As to our values not even being optimal for our current environment fuhgedaboud our future environment, it is pretty widely recognized that we are evolved for the hunter gatherer world of 10,000 years ago, with familial groups of a few hundred, the necessity for survival of hostile reaction against outsiders, and systems which allow fear to distort in extreme ways our rational estimations of things.

I wonder if the FAI will be sad to not be able to see what evolution in its unlimited ignorance would have come up with for us? Maybe they will push a few other species to become intelligent and social and let them duke it out and have natural selection run with them. As long as their species that our CEV didn't feel too overly warm and fuzzy about this shouldn't be a problem for them. And certain as a human in the walled garden I would LOVE to be studying what evolution does beyond what it has done to us, so this would seem like a fine and fun thing for the FAI to do to keep at least my part of the CEV entertained.