There are several mechanisms in place on earth to stabilize changes in atmospheric composition and temperature (otherwise an sporadic eruption of a volcano or glacial eras would have thrown things out of whack long time ago). I don't think this is an hypothesis. We have seen some of them in action in recent years, like the advanced rate of reforestation due to larger levels of CO2 in the atmosphere.
The problem is we don't know what would happen if we push these to the limit or what their limit really is. And they are very complex in the way the interact. For example. Warmer oceans and larger levels of CO2 will make phytoplankton grow faster, absorbing more CO2 in return, but it will also accelerate the growth of zooplankton, that feeds on it. This creates a bottleneck.
So TL;DR: yeah, it's cool we have these mechanisms around but the goal should still be to keep things as close to the baseline as possible (and we have been really bad about it in the last century)