The reason people maintain carbs are evil is because glucose is metabolized quickly. Leftover is either stored as glycogen, or converted into fat. For people who do no exercise or take an excess of carbohydrate in the first place, especially in the form of simple sugars, it makes sense to cut carbohydrates. For people who are actively exercising, it is not a good idea because there is simply nothing else cells can use for respiration at the rate needed to sustain (i.e. for more than 10-20s) any reasonable level of physical exertion.
If you have no carbs, metabolism of fat is okay for your energy requirements at essentially rest. If you have no carbs and exercise on top of that, you basically hit a wall. Your fat is not metabolised fast enough to give you sufficient energy for the exercise. When you metabolise glucose, this wall is further away in the first place, and when it is hit, circumvented with anaerobic respiration, an inefficient method, but a way which does not require oxygen. No such pathway exists for fat. And because you have used all your liver glycogen on brain and kidney tissue, since they metabolize glucose preferentially, everything starts to grind to a halt. Your fat gets metabolized into ketone bodies, which are taken up by the brain and kidneys preferentially. Meanwhile, your muscles have nothing to metabolize, so they grind to a halt and you can't run (or cycle, or swim, or row) anymore.
And if you take away the fat as well as have a no-carb, caloric deficit diet, you start to die. Your body starts taking away muscle tissue for energy to preserve its last reserves of fat and glucose/glycogen for the brain, and then when this is depleted as well, everything starts to fall to pieces as the brain is forced into metabolizing things that it doesn't like at all.