Yes, and some dinosaurs are still alive today. We call them birds. The environment of the earth was still radically altered in an instant, and our ancestors were the winners.
Phew, you made me feel more optimistic about the world. Our current extinction event is comparable to one where a literal huge asteroid hit the planet :-)))
I mean, I do actually find solace in the fact that extinction events in general can create new conditions for new forms of life, and that one in particular paved the way for mammals.
But, my comment was only responding to the assertion that "This is the first time extinctions are happening faster than evolution."