Where does the TOE predict this?
In logic, this is known as changing the subject. The point is lack of ANY descendent species for an ogranism that has been on the earth for 400 million years.
Based on extrapolations of the current biosphere from the last mass extinction, millions is not an unreasonable number. What IS unreasonable is to say there are none, when TOE specifically predicts that genetic variation and natural selection would cause species to split off from common ancestors.
If you have a common ancestor, you have to have descendants. If all species descend from common ancestors, then all species old enough will eventually have descendants.
If the common ancestor of humans and chimps can spawn thousands of species in a few million years (remember, descendant species are the common ancestors of others; you've seen a phylogeny tree, take it the other direction), then it is reasonable to assume that a species 100 times older would spawn many, many more times species than that (remember, it's not a linear expansion).
It would be much easier to establish common ancestry using living species and living fossils than the fossil record. If it hasn't been done, it's very likely because it can't be done, and that is very damning to the theory.