I would say that cancel culture has been embraced by more on the left then on the right. Given that colleges here have embraced it and some have brought back Jim Crow with just a different twist on it, would lend itself to being more of a leftist sentiment. I noticed that it does tend to be white liberals more often then not. I believe it was a white liberal that came up with "latinx" or something like that and I do believe that has been widely rejected by the latino community. They even fought against canceling of Speedy in the new Space Jam movie. It's (typically) white liberals that are offended for other people.
I would also speculate that it's a sense of projection. They have the same feelings that they are trying to stamp out, but by making it an immutable characteristics tied to skin color and gender, that somehow absolves them of it being their own individual characteristic. That's what victim politics is, it does away with self reflection and how to better one's self and blame their issues on someone else.
I agree with the dopamine rush, unfortunately, it requires the success of their objective in order to get that dopamine rush, which means the corporation (some of which share this ideology and thus don't mind doing it) have to "bend the knee". Those that have, have essentially given power to those people. This has been happening for a decade now, for those that are nerds (like video games, genre TV, comics etc) this has been doing on for a long time. Only now, "normies" are becoming aware of it and starting to go against it.
It's not anti anything, it's the same thing that they are supposedly against, just with a different target. That is all.