神经网络压缩有几何极限，特征容量由稀疏性决定。

Knowledge distillation compresses large teachers into smaller students, but performance saturates at a loss floor that persists across training methods and objectives. We argue this floor is geometric: neural networks represent far more features than dimensions through superposition, and a student of width $d_S$ can encode at most $d_S \cdot g(α)$ features, where $g(α) = 1/((1-α)\ln\frac{1}{1-α})$ is a sparsity-dependent capacity function. Features beyond this budget are permanently lost, yielding an importance-weighted loss floor. We validate on a toy model (48 configurations, median accuracy >93%) and on Pythia-410M, where sparse autoencoders measure $F \approx 28{,}700$ features at $α\approx 0.992$ (critical width $d_S^* \approx 1{,}065$). Distillation into five student widths confirms the predicted monotonic floor ordering. The observed floor decomposes into a geometric component and a width-independent architectural baseline ($R^2 = 0.993$). Linear probing shows coarse concepts survive even 88% feature loss, revealing the floor arises from aggregate loss of fine-grained features in the importance distribution's long tail. Our results connect representation geometry to distillation limits and provide a practical tool for predicting distillation performance from SAE measurements alone.