As you know the Aboriginal and Torres Strait Islander peoples of Australia have been masters of land management for tens of thousands of years.
One of their methods was controlled burnings to encourage the germination of native grasses, to clear out excess fuel in the bush and reduce the chances of uncontrollable fires in the dry seasons, and - in the longer term - to encourage biodiversity.
What is happening in the lithium space now is not a controlled burn, but certainly it's a fire that is wiping out anything not strong enough to survive, and afterwards the survivors will flourish (and, in time, new producers will spring up).
As it has been noted on this forum, cash is king. Manageable debt has gone to unmanageable then quickly on to terminal debt. Smaller outfits, or companies who had overreached, over-stretched themselves, are now in a dire position.
There will be fewer established competitors around when the good times start to roll - as EVs go into mass production, driving unit prices down and lithium prices up.
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