I think high X-risk makes working on X-risk more valuable only if you believe that you can have a durable effect on the level of X-risk - here's MacAskill talking about the hinge-of-history hypothesis (which is closely related to the 'time of perils' hypothesis):
Or perhaps extinction risk is high, but will stay high indefinitely, in which case in expectation we do not have a very long future ahead of us, and the grounds for thinking that extinction risk reduction is of enormous value fall away.
I found your description of applying effort to a really difficult task, and eventually making the hard decision to cut your losses, inspiring and moving. Thank you to CEAP’s founders, funders, and other supporters.