Exactly. All life has a capacity to adapt, but it is mostly[0] constrained by lifespan. Individual organisms don't adapt - their type does, over time, through generations breeding and dying. But if the environment is changing faster than that - faster than what it takes to cycle through a couple generations - then the organism type won't ever be able to catch up.

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[0] - Excluding shenanigans like horizontal gene transfer, that are mostly relevant to bacteria and archaea.