It might doom the idea of common descent, but not necessarily that of evolution in general. Or it might simply push the time for a common descendant back to some hypothesized earlier stratum.
The real weakness of the ideas that "it ALL happened this way" (be it via evolution or creation) is that both sides ignore obvious facts that inhabit the middle ground where both approaches can work in tandem. We can observe the effects of genetics on inherited traits. We can likewise demonstrate that intelligent designers can and do have the capability to affect genetic outcomes.
Interestingly, it is the so-called "scientific" types who (as on this thread) tend to have the most dogmatic attachment to their "ALL".