And not to get too "political" with it, but the camp opposed to cancel culture tends to be right-wing, and tends to frame their opposition as being left-wing (using US standards.) Right-wing people also tend to support at-will employment as an expression of right-libertarian/anti-regulation principles.

This may be why the discourse around cancel culture tends to be framed in such a way that the threat is the speech of leftists/liberals/progressives, etc. rather than the power of corporate entities to enforce arbitrary consequences.