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I think you're making unacknowledged assumptions in your question that may cause it to have no answer. The most affluent people often have very low birth rates. The most challenged people often have very high birth rates. There may not be a point "so bad" that people don't reproduce.
People don't reproduce for rational reasons. They are responding to a drive and have no insight into what informs that drive except by inference. But I still think there is a moral dimension to human reproduction and responding to a drive does not make it moot.
Some people clearly do reproduce (or more directly: not reproduce) due to rational reasons, as demonstrated by people opting out. The most commonly cited reason is finances, but I've also seen environmental concerns or societal factors related to gender (e.g. with 4B).
Solid point though. The real question might very well be: what percentage of the population is willing to forgo reproduction due to adverse external conditions vs what percentage will continue even under extreme hardship?