You are right about the pH implications, but respiratory acidosis leads to hyperventilation, not hypoventilation. CO2 will kill you regardless of oxygen supply.

You are right about the pH implications, but respiratory acidosis leads to hyperventilation, not hypoventilation. CO2 will kill you regardless of oxygen supply. https://en.wikipedia.org/wiki/Hypercapnia https://en.wikipedia.org/wiki/Hypercapnia