Here is what bugs me a bit about this whole conversation: It provides cover for actual bad actors by focusing on the occasional overreactions.
Societal shaming is a blunt tool. But, it is a tool that can sometimes be used effectively. In its blunt nature there is collateral damage. Typically, and I think every example that has been mentioned in this thread, the collateral damage is caught and corrected. The bad joke leads to a suspension, but int eh end the joker still has a job. The errant tweet leads to a boycott of a store, but int he end the store is supported by those who understand the situations and the store survives. The quarterback tries to be respectful and is blackballed, but the league ends up paying a settlement and the player pivots to another career. Yeah, the correction is not always enough, the correction is not always fair, it is not always a true correction, but it is another element of what is happening via social media. Social media is how these injustices are brought to light, it how crowdfunding kicks in to help those who have been targeted unfairly.
So, how are we to defang the mob of attackers without also defunding the mob of supporters?
By focusing solely on those fringe cases and providing a handy label that is so broad it can be applied to a brand who chooses to trim their back catalog or update their branding, you also get cover for actual bad actors. If Cosby had been better prepared to scream "CANCEL CULTURE" from the rafters on the air with Tucker he may have even cut off the #MeToo brigade that came after him. Gaetz still looks like he may survive by claiming this is all just Cancel Culture and who knows who will be next.
It is right in line with "Oh, is this font racist?" JAQing off. They may as well be early 2000 Trump out there complaining that the "cure is worse than the disease." "Stop telling me that everything is racist just because everything has been used by racists!!" simply misses the bigger picture that it is really hard to avoid racism in our country without actively being anti-racist. And being anti-racist is spilling over into social media. With that there will be blunt effects, and there will be corrections, but is there any way to combat systemic problems with blunt tools and not have that happen? I don't think so, but I'm open to suggestions.