I like "cancel culture." You can call it twitter mobs or whatever you want to but the only people responsible for actually cancelling anyone's career are the people whose careers have been "cancelled" and most of them are still able to work but they just find their audiences are much smaller.
Bill Cosby still performed up until the time he was convicted up rape. He wasn't getting any big endorsement deals but those morals clauses are a pesky thing.
As far as Morrissey and those who "viscously criticise his words without even examining why he said them," actually I think quite a bit of effort has been put into looking at why "he said" these unspecified words. It's all his fault. He made uninformed statements about things he knew nothing about in some cases - Spacey and Weinstein - and used purposely sensational language designed to get attention in other cases, "subspecies" and his idiotic statement about the deaths of the young people in Norway.
But he hasn't been cancelled. He has simply made a series of statements designed to get attention or create an uproar, and then when he succeeded in doing exactly what he set out to do he has complained about the results.
We who follow his statements more closely might argue that he's not actually a racist but simply a xenophobe but you can't blame people who don't bother to carefully weigh every word and give the benefit of the doubt to his intention every time when he doesn't bother to weigh those words himself.
He's a troll and he has been since the beginning. When it was aimed at other pop stars or people in positions of power like Thatcher or the Queen it was acceptable, but when it's aimed at a nation of people, or the victims of sexual predators it's not.