This isn't remotely new, though. For one very visible example in our industry, Lynn Conway got fired for coming out as transgender. Similarly, Turing was canceled for being gay. Politicians have been getting canceled for marital infidelity for most of my life (and, wow, Trump really modernized the Republican party on that one). Not to mention the McCarthy era, where people got canceled over suspected affiliation with leftists.
There's a huge panic about how cancel culture is destroying the world... but the difference is that people today are getting canceled for exhibiting intolerance and bigotry, instead of getting canceled by the intolerance and bigotry of those in power. And, yes. There are certainly cases where the cancellation is disproportionate to the offense. But compared to Harvey Milk, Martin Luther King, and many many others canceled in the past... there's nothing new here, and historically speaking, this sort of cancellation is pretty soft.