BBC News: Sharks swim closer to extinction

Sharks are not breeding like cattle - which means we eat them faster than they can breed.

Excellent - so we now longer need to worry about being eaten by sharks since we simply ate them.

But I am also pretty sure we will figure out that shark are an essential part of OUR mutual ecosystem - because they are one of the oldest species around (from Wikipedia):

Evidence for the existence of sharks extends back over 450–420 million years, into the Ordovician period, before land vertebrates existed and before many plants had colonised the continents. All that has been recovered from the first sharks are some scales. The oldest shark teeth are from 400 million years ago. The first sharks looked very different from modern sharks. The majority of the modern sharks can be traced back to around 100 million years ago.

Similar to bees or ants  - sharks serve a very important function as hunter and "cleaner" in our oceans.