The discussion centers on the size and impact of asteroids capable of sterilizing Earth. It suggests that an asteroid's density and impact velocity are more critical than its size in determining its destructive potential. A football field-sized iron asteroid could potentially wipe out all life, while a larger, slower asteroid might leave some microbes intact. The conversation also highlights that achieving total sterilization, including microbial life, would require a significantly high-energy impact. Ultimately, the kinetic energy of an asteroid is a key factor in its ability to cause widespread destruction.