Step 1: Frame the question as where oxygen does NOT fix the problem. Oxygen helps when hypoxaemia is reversible by raising alveolar $P_AO_2$. Asthma (bronchospasm), pneumonia (consolidation) and subglottic stenosis (airway obstruction) all respond to added oxygen. Step 2: Pulmonary fibrosis is a diffusion-limited disease; the alveolar-capillary membrane is thickened, so simply raising $FiO_2$ gives limited benefit. Step 3: Worse, hyperoxia drives reactive oxygen species that aggravate the same fibrotic and oxidative injury seen with bleomycin and paraquat. So oxygen is the wrong friend here. Step 4: Eliminate the others because each is an oxygen-responsive hypoxaemia, leaving fibrosis as the answer. \[\boxed{\text{Pulmonary fibrosis}}\]