Bonking is carbohydrate depletion. This can happen to diabetics who have taken too much insulin also. Your body will recover from the bonk and it's not life threatening unless you are doing something dangerous that requires focus and control. However, for a diabetic, that has too much insulin, his/her blood sugars will continue to go lower unless they are replenished with carbohydrates. The insulin will continue to lower blood sugars until blood glucose is completely depleted. At this point you would expect to find the person in a diabetic coma, which in many cases is fatal.
But, for the average Joe that doesn't have to worry about trying to control insulin output with shots, you don't have to worry about being killed by the bonk. Your body will automatically shutdown the release of insulin well before you're in danger.