"Or all was lost"

I've been re-memorizing The Living Christ. As I read the last  line of the Sacrament hymn #175 O God, the Eternal Father, something clicked for me. It says: "And die, or all was lost"

In The Living Christ there is a part where they talk about the sacrament and pair that with Christ's betrayal and death: "He instituted the sacrament as a reminder of his great atoning sacrifice. He was arrested on spurious charges, convicted to satisfy a mob and sentenced to die on Calvary's cross." Why do they pair those? I've been wondering that over the past few weeks.

The reality is, all would have been lost if Christ did not complete the Atonement, which included great suffering, betrayal and death - all terrible things. I am tempted to think all is lost when I'm going through hard/terrible things. But, in reality we may be saved from having all be lost as we are asked to go through hard/terrible things. We always have the example and support of Heavenly Father and Jesus Christ. We are always able to utilize the atonement and find the peace and courage to change thought patterns.