Marginalized people are cancelled by the dictates of society's majority and have been by many years. This should always obligate the majority to be continually aware of the way in which their power damages others. The reality is that many powerful people 'cancel' others when they promote their own.
When the society allows these people with most of the power free reign, it should anticipate that eventually those marginalized people will tire of being marginalized and will push back.
'Cancel culture,' generally speaking, is that push back. Marginalized people in the US, in particular POCs and Black people, have been subjected to cancellation for centuries due to white supremacy and the resource-shift to whites that it represents.
I've sat in C suites and met with wealthy white people, mostly men, for years. They 'cancel' people of color without a thought and promote their own family members and other (almost always white) people without thinking twice about the way in which they damaged that other person's career. This happens at the executive level ALL THE TIME, as evidenced by statistics that indicate an extreme majority of white people at higher levels of society, in possession of: the voice; the power; the money; the decision-making.
People of color and their opportunities are CONSTANTLY cancelled in a white supremacy society; I've lost count of the number of POCs I've watched tossed to the side--their careers essentially cancelled--so that a lower-performing white person could get that higher-level position. I've personally observed this for decades, and it is performed by these higher-level people as if IT IS PERFECTLY NORMAL to discuss plopping a highly desirable job into the lap of a mediocre family member or friend who is white while that performing POC's career is essentially cancelled.
Eventually, yes, this sort of multi-generational cancellation behaviors--ones which have cancelled all POCs, but especially Black people, for centuries--will provoke a similar response.
We will see significantly less 'cancellation' behavior if, at higher levels of power, white people did not automatically cancel out POCs and other marginalized peoples DURING THE NORMAL COURSE OF THEIR LIVES, AND CALL IT 'NORMAL,' then continue to behave that way for centuries, generation after generation. Handing things to your privileged children and friends is a form of cancelling everyone else.
It requires some sort of response in an allegedly 'equal' society, since that group cannot seem to exhibit the insight required to establish ACTUAL equality.