When species disappear far quicker than they are replaced, it is called a mass extinction event.
Mass extinction has a negative impact on biodiversity, but it also has a positive impact on evolution.
It decreases resource competition by creating unoccupied habitats and niches in which surviving organisms can live and evolve.
Mammals, for example, were first discovered as little rodents, but with the demise of non-avian dinosaurs during the Cretaceous mass extinction, they evolved.