The longer a fish is in a bag, the worse off it is. When they excrete waste, the ammonia has nowhere to go. The more ammonia in the bag, the harder it is for a fish to breathe. It can be compared to a person smoking a cigarette in an airtight room for hours and hours.
One thing is for sure, do not drip acclimate a fish that has been in a bag for this long. If the ph in the tank is higher than the bag (which it will be because all of the CO2 in the bag), then it will make the ammonia twice as toxic and probably kill the fish.
When they ship fish in the mail they fill the bag with oxygen. When you buy them from the store, they generally don't do this so get that fish outta that bag!