[everdrive]

That's not true at all -- there have been countless problems similar to this, it's simply that in time life has rebounded, and that species without an "evolutionarily stable strategy" have died out. Here's just one example:

https://en.wikipedia.org/wiki/Great_Oxidation_Event

[edit]

A bit more info on ESS:

https://en.wikipedia.org/wiki/Evolutionarily_stable_strategy