What's "really going on" is the media taking notice of one of its own being butchered by the Saudis.
As you correctly observed, there is no political will in the US/UK/SA bloc to draw attention to Saudi-borne atrocities. This percolates down to major news platforms, contingent upon an implicit truce between Saudi Arabia and the media class. This was frustrated (although likely not severed) by the Khashoggi affair.
To address your larger concern - I am sympathetic to the argument that the most 'advanced' nation-states are no less complicit in 'barbaric' acts, war crimes, systemic violence, etc etc than those which more often receive scrutiny.
Even in this light, the Saudi example is exceptional: it's an explicitly anti-democratic hereditary autocracy with a medieval justice system having no concept of codification (other than deference to the Quran and Hadith) or legal precedent (rulings are inconsistent and case-by-case). Essentially any investment capital or financial dealings with the SA, the state, is directly debited to or from the Saudi royal family.
This is different from China and even Russia, for which one could make also the case that the state is insufficiently democratic, has arcane/draconian laws, etc etc, and that the money is likely to be siphoned off to oligarchs or state accessories. In fact, to your point, business with these countries _is_ often criticized - some would say to not a great enough degree. But drawing an equivalence on the basis of questionable state actions alone is, well, equivocating in this case.