Conservatives have been canceling stuff since before the dawn of civilization.
In America specifically they have cancelled all kinds of shit, from interracial marriage to homosexuality for hundreds of years. They are currently trying to do the same kind of shit to Trans people even today.
And its not something that is specific to "lets murder all these folks we don't like" either. Do any of you remember them trying to cancel Harry Potter or D&D? Cause those were totally things that happened.
When I was growing up in the 90's they had a bloody Harry Potter book burning near where I lived.
There is a difference of course now, which is that Liberals are winning in the public sphere in many cases. Stuff like anti-gay boycotts no longer work and actively backfire against the people and companies that do them.
So what do the republicans do? They make up a new negative term focused on Liberal reaction to people saying racist, sexist, or even outright genocidal shit to try to control the narrative.
Not only is it them trying to defend their worst members and to give them carte blanche to say whatever they want, its also of course also projection; because Republicans haven't at any point stopped trying to cancel wide swaths of the population.
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Republicans are damn good at making up terms to try to control the narrative, way better then Democrats.
Its why for instance we say "Climate Change" instead of Global Warming, because GW sounds worse and scarier, so they changed the word to something neutral.