I think we're at crossed wires.
Indeed we are
To use your example of Gina Carano, there was public backlash against her comments (and to be fair there was a lot of anticipated backlash which really didn't factor in because Disney was fairly proactive about packing up her desk). Backlash, calls for boycotts etc, Actress fired, Disney returns to business as usual. The connection isn't trivial, Disney was not willing to risk the loss of business from reputational damage, so the protesters got exactly what they wanted. They flipped a metaphorical switch by threatening boycott, or at least making enough noise that Disney felt its sales would suffer.
Yeah you touch on it here, reputational damage, as in not pissing off the horde. The financial 'motives' are circumstantial and the logical consequence of living in a capitalistic world.
People have always wanted to punish individuals and groups they see as bad. That hasn't changed. That will likely never change. What has changed is their agency to do that.
Yes but I wholeheartedly disagree that the agency has changed. This is the core of our discussion I believe, just to reiterate

the mob hasn't got much to gain from cancelling others, other than artificially feeling good about themselves and pretending like some issue was solved for the betterment of everyone.
For example, think witches in the medieval age, it was all about dehumanizing, sure you can make connections to financial systems (as in that witches were blamed for adverse events leading to hunger or poverty), but the core is in the scapegoating and mass mentality. It's these mechanisms that imo should be discussed and are interesting, it's only logical for businesses that want to make money and have to succumb to the mob
Scapegoating, as old as humanity itself and never more relevant than today.
My own example - Gamestop. Mom and pop investors tried to punish hedge funds for shorting the business. Many had moral or ethical objections to the practice of shorting. They were in effect trying to run them out of business (cancel them) and almost succeeded in a few cases. The moral objection to the practice of shorting is meaningless, they'd been complaining for decades about it. It was only the facilitating of them being able to trade en-mass as a kind of group that allowed them to punish the hedge funds. Motivation had to be translated action via a mechanism.
Yeah but this is just bordering on criminal behavior by hedge funds, standing up against that isn't what 'cancel culture' is about.
You can place the blame for cancel culture on the motivation part of that system, but I personally don't see the point - are you going to stop people complaining?
Good paragraph, forgive for digging into it, asking the good questions here
In essence, not much.
People seem more motivated to forgo certain goods and services for ethical or moral reasons
'seem' being the keyword, rarely implemented with success in practice where people actively lose big. I don't buy the hedgefunds argument, there is nothing to lose, and it's just unethical in the first place, and they're right to address that, disregarding the way in which it's done + the apparent perseverance and somewhat more dodgy motives.
Do they hold stronger to their ethical and moral principles now?
They think they do, it's no different than in medieval times, burn some witches and think you've solved shit, until the next one comes along. I don't buy that at it's core it's really about ethical reasons, on the surface it does seem like it, but kinda hard for me to get into without more psychology knowledge.
Do modern technological innovations better facilitate group-think moral-superiority thinking now?
Yes, (social) media appear to make a lot of people mentally ill.
Are businesses more sensitive to bad publicity now? Are business profit margins more squeezed now such that they don't have the luxury to ride out a boycott?
Yes, and yes. We've gotten there

you see why I find it pointless to get back to these questions every time? The answer is simple and a resounding yes. The core of the discussion around cancel culture should revolve around the other questions. If we do get into these questions more deeply than it's just a discussion about capitalism, and in that context 'cancel culture' is such a minor consideration that it's pretty much irrelevant.
One more point that I need to get across is that cancel culture is, given pretty much all practical evidence, is about incredibly minor and minute issues. People die, suffer and starve but you won't hear a peep unless specifically pushed by media. This makes it so that the moral highground is a complete illusion, artificially heightened by the mob.
In short, the agency for cancellation has always been the same, the manifestation of those agencies, as well as the manifestation of the act of scapegoating, is different.
But I think I screwed myself in this argument

let me explain and tie it all together: I have to agree that the manifestations are pretty strongly related to our financial system. I believe that should be our middle ground?
Forgive me for being all over the place in this post, don't wanna go back and tie everything beautifully together in corresponding paragraphs.