In overwhelmingly most of the cases where someone has been 'cancelled', their career has not noticeably suffered even one bit. Just look at Mel Gibson, dude has been unapologetically spouting wild shit at every possible marginalized group for decades and he's still got a bustling career as both actor and director.
If anything, this is the biggest argument of all against the existence of 'cancel culture', cause so far I can't find even one example of someone who's truly been cancelled, and furthermore, for something completely innocent and meaningless.
If people were actually being sent to gulags for saying something the government or general public simply didn't like, you cancel culture warriors would have a point. But... that's not the case, and that's not where this is going. Believing as much is an extremely tenuous slippery slope argument and just delusional levels of fearmongering.
There is absolutely nothing new going on, except the fact that more people these days are intolerant of bigotry and other vile behavior, and are better able to voice their concerns via the internet.