Extinction is the dying out of a species. Extinction plays an important role in the evolution of life because it opens up opportunities for new species to emerge.
Why extinction is a good thing?
In effect, a mass extinction cleans the slate, creating new evolutionary niches which promote a wide range of species, increasing biodiversity, competition and in some cases increasing complexity in organisms as they try to carve out their niche in the new world. We are an example of the aftermath of mass extinctions.
Why does extinction matter to humans?
Even more important, intact ecosystems perform many vital functions, like purifying the air, filtering harmful substances out of water, turning decayed matter into nutrients, preventing erosion and flooding, and moderating climate. This is why extinction matters.