The replacement hypothesis proposes that “modern humans” evolved only in sub-Saharan Africa, through a speciation event rendering them unable to breed with other hominins. They then spread throughout Africa, then to Asia, Australia and finally to Europe, replacing all other humans by exterminating or outcompeting them. In this critical analysis of the replacement hypothesis it is shown that it began as a hoax, later reinforced by false paleoanthropological claims and a series of flawed genetic propositions, yet it became almost universally accepted during the 1990s and has since dominated the discipline. The numerous shortcomings of the hypothesis are appraised from genetic, anthropological, and archaeological perspectives and it is refuted. The resulting hiatus in the history of the human genus is then filled with an outline of a comprehensive alternative theory presented recently, which not only explains the origins of “modern humans” but also numerous so far unexplained aspects of being human.