Voila, continuing exponential growth.
We can't have exponential population growth, but infinite exponential economic growth? Dollars are just numbers in a computer. Increased economic growth can mean better resource usage rather than more resource usage.
They try to calculate, in some detail, at what point in the year the current civilization has used the earth's annual "ability to regenerate" across a range of areas, and convert it into a calendar date. So if we're using twice the earth's annual regeneration, overshoot day would be about July 1. Etc.
Spider off that and you can find some good resources on how it's calculated. Needless to say, it's not a pretty picture at the moment.
Where is your 'scientific thinking' in questioning all these things?
Thus, I don't think it can be used to describe a maximum capacity earth could sustain
Knowing the maximum capacity that our Earth seems to be capable of sustaining based on current utilization is an important number, and isn't worthy of such a short-sighted dismissal. If lifestyles do change such that the maximum capacity increases, that's a huge win to be able to track.
That said, when it comes to looking at the maximum capacity earth could sustain, it rather seems short sighted to not consider life style changes while even the article being commented is about shrinking consumption.
Do you even know what Growth is?
Since you are in HN, I'm guessing you also know the 2nd law of Thermodynamics?