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PhilGoetz comments on Exterminating life is rational - Less Wrong
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What you just said seems correct.
What was originally at issue is whether we should act in ways that will eventually destroy ourselves.
I think the big-picture conclusion from what you just wrote is that, if we see that we're acting in ways that will probably exterminate life in short order, that doesn't necessarily mean it's the wrong thing to do.
However, in our circumstances, time discounting and "identity discounting" encourage us to start enjoying and dooming ourselves now; whereas it would probably be better to spread life to a few other galaxies first, and then enjoy ourselves.
(I admit that my use of the word "better" is problematic.)
Well, I don't disagree with this, but I would still agree with it if you substituted "right" for "wrong", so it doesn't seem like much of a conclusion. ;)
Moving back toward your ignorance prior on a topic can still increase your log-score if the hypothesis was concentrating probability mass in the wrong areas (failing to concentrate a substantial amount in a right area).