> Surely something would provide balance before the whole planet is turned into a big E.coli colony.
Probably evolution has had a long run at evolving things to do that but how badly would we screw ourselves and the planet in the meantime before an equilibrium was reached.
The only thing that slightly cheers me up is that apart from when bacteria wiped out almost everything by pumping out oxygen we haven't really seen that situation again, if it was a low hill to climb you'd think we'd have seen it already.