Video unavailable, but as someone with a background in the Geological sciences, I can tell you the real nasty Extinction event was the Permian. The Oxidation even did happen, but that was more a result of life actually evolving on this planet and changing our atmosphere to a more oxygen rich environment. That same O2 event led to the explosion of plant life as well. It wasn't a 'bad thing' (the O2 event) as really no massive ecosystems/life even existed at that stage. The Permian was a whole different level though. THAT wiped out around 95% of life on Earth. That's the event that had multiple factors (and/or cascade type environment failures) and look a good 50 million years for the Earth/Life to recover. Either way, quite a few species died out at that time, and only exist now in the fossil record (see: Trilobites).