Does the Bible give a Prophecy about the Great Apostasy?

Did Paul teach that the Christian Church would go into apostasy, and lose the Priesthood Authority to perform the central ordinances of Christ’s true Church?

Many Mormons believe that there was a Great Apostasy that occurred shortly after the time of the Apostles. The Mormon Church teaches that this Great Apostasy was foretold in the Bible. 2 Thessalonians 2:3 is often appealed to as one of the prophecies regarding this apostasy. But Christians disagree that there was ever a great apostasy. Christianity teaches that Jesus established His Church, and that His Church would continue to grow without interruption until Jesus returns.

But, if Christians claim that there was no mass falling-away from Christ’s Church, then what do Christian do with passages like 2 Thessalonians 2 which teaches about a coming “rebellion”?

So are Latter-day Saints correct in their understanding of the corruption of the Christian Church? Or are Christians correct in their belief that there was no such apostasy?

“Let no one deceive you in any way. For that day will not come, unless the rebellion comes first, and the man of lawlessness is revealed, the son of destruction” (2 Thessalonians 2:3)