> "cancel culture" is simply culture
There are 2 types of cancel culture: society "cancelling" people when we discover they are extremely toxic and/or sexual predators, and private citizens getting doxxed, slandered, and sometimes fired from their jobs because of a racist tweet or off-putting remark. The latter is a by-product of social networks, especially Twitter, and it's a real problem with real consequences.
Saying or doing something racist or rude is bad, it should and would probably get you kicked out of a bar or event. But prior to social media, it would not get your entire reputation ruined, and you wouldn't get 50,000 random people to start harassing you. I hope most would agree that this is a disproportionate punishment.
But IMO the larger issue of cancel culture, is it makes people less likely to say edgy jokes or borderline politically-incorrect statements for fear they will also get "cancelled". Then the definition of "borderline" politically-incorrect shifts further left, more and more becomes taboo, and people start to deny facts because they don't agree to societal norms. When reality is taboo, you get real consequences.
We need a grey area, where you can say something which isn't "accepted by society", but it doesn't get you effectively blacklisted everywhere, and it doesn't affect things like job offers. I'm too young to confirm but I assume we had something like this before social media took off. But with everyone connected and very scrutinizing/critical it's starting to go away.