why is the survival of species important?
The context of your question is not very clear but I would like to discuss a very basic effect of this phenomenon.
Survival of species is important for maintaining balance in ecosystem. Its the diversity in ecosystem which leads to stability in the populations. All the species are attached to each other for nutritional requirements or for the means of control in growth. Hence ecosystem develops and expand systematically and in a controlled manner.
More the diversity, higher are the chances for populations to adapt to environmental changes. Imbalance in one population leads to imbalances in other linked populations. Like if carnivores become extinct from any ecosystem, there will be no check on the growth of herbivores. This uncontrolled growth of herbivoroh will lead to reduction in population of primary consumers.
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