In short, yes, we are potentially doomed. The severity of this threat however, really depends on whether we halt destruction of biological diversity and how long it takes us to do so.
For those without a dictionary:
“Biodiversity is the variety of all living things; the different plants, animals and micro organisms, the genetic information they contain and the ecosystems they form. Biodiversity is usually explored at three levels – genetic diversity, species diversity and ecosystem diversity. These three levels work together to create the complexity of life on Earth.” – The Australian Museum