Given that your flight didn't get the "rubber jungle" of deployed masks, the cabin pressure probably never dropped precipitously low, but rather started to oscillate as the safety valve dumped and closed, but never dumped enough to deploy the masks and the crew declared and descended in order to sort things out.
A small number aircraft (non-airliners) are lost each year due to pressurization issues. It's a serious business, even in the high 20s and 30s (of 1000' MSL).
Single pilots are required to continuously wear O2 mask at/above FL350 (35000') and one pilot of a two pilot crew must continuously wear O2 over FL410. Between FL350 and FL410, two pilot crews may rely on quick-donning masks. This is believed to be a commonly violated regulation (in that air crews regularly do not wear the required mask when things are operating smoothly).
I believe that is an understatement. I've heard it described as the most commonly violated rule in aviation. There are a number of youtube pilots who commonly violate this rule seemingly without too much worry.
It shows that the most impressive electric aircraft specs are for the pressurized Eviation Alice (1000km, minus margin for contingency, and 250 knots cruise). If you stay low enough to not require pressurization, then you have to compromise the lift to drag in order to have a decent cruise speed or you have to tolerate a really low cruise speed.
Altitude is essential. Bite the bullet and build a pressurized cabin so we can get on with replacing fossil fuel aviation with full electric. https://www.eviation.co/alice/
Doesn't have to be above the Armstrong Limit, but it sure does help to be above 10,000 feet.
Eventually we'll have supersonic electric aircraft. To have sufficient efficiency, they'll need to be at or above the Armstrong Limit, like Concorde. (And perhaps higher, like the 96,000 feet record holder for horizontal powered flight, NASA's Helios... which just happens to be electrically powered. https://en.wikipedia.org/wiki/Helios_Prototype .)
EDIT: High altitude enables you to use an extremely efficient airframe with sailplane-like lift to drag but STILL achieve high cruise speeds. For instance, the Perlan II glider actually has no engine and is able to soar higher than any towplane, above 76,000 ft where it flies at about 250 knots (actual airspeed). Without any engine at all. https://www.youtube.com/watch?v=NnpE5xS1g80
And here's a solar electric aircraft aiming for similar goals: https://www.solarstratos.com/en/challenge/
If you go above 60k, and the plane experiences a rapid loss of cabin pressure, you have 60 seconds to restore cabin pressure before the passengers start dying. So the failsafe system will have to be massive. That increase in weight and complexity isn't worth the efficiency gains.
You mention Concorde, and indeed it had a very substantial failsafe system even though it only touched the lower end of the limit. Concorde had really small windows, so even with two windows gone it took some time to equalize pressure. The pilots had positive pressure oxygen masks, and the plane had the ability to drop altitude immensely fast in an emergency.
Electric aviation has many merits, but being a lightweight source of plentiful oomph is not currently among them.
Current engine designs operate poorly at higher altitudes for a number of reasons: less air density meaning less oxygen to burn and less air to push against. Turbine engines can flame out, which maybe that's what you were referring: https://en.m.wikipedia.org/wiki/Flameout