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No, I actually think this is right on the money for how a boycott should go.
Bud Light tries a marketing tactic and immediately sees its sales crater: even if the sales are going to its other Anheuser-Busch brands there are real costs in having to drop large amounts of production on one brand and move it to another.
Plenty of people work for Bud Light but not AB, and if they have to cut, say, a quarter of production those people are at least having their lives disrupted and possibly being laid off and replaced. Even if AB's sales stay completely level, that will be a significant event.
Meanwhile, they paid for that privilege: that was a marketing campaign that was intended to raise sales. And the people at the top of AB who are at least going to casually glance at new marketing campaigns are the same ones who had to reorganize after this Bud Light stuff. If AB goes under the company that replaces it is determined by market demands plus luck, with no guarantee they won't be more ideologically opposed to our Bud Light boycotters.
Instead, AB sticks around and learns the lesson "don't waste money on the trans stuff" which is what the boycotters wanted in the first place. Not only is it the most direct goal, it's much more attainable than trying to take out the largest brewery in the US.
In addition to this, cancel culture is an ethereal and poorly defined thing, but this all feels a lot more pure to me than it could be. Brand does advertising, consumers change their purchasing behavior of the brand as a result. No major agitating for collateral damage, not even really that much of a push to get people fired*, just "we're not going to buy this anymore because of what you did with it, you figure out what happens next".
*I'm sure people on Twitter were loudly calling for both, but it seems like the impact on a consumer level was much bigger. I would ideally just have people change their purchasing behavior and make a relatively-quiet confirmation of "yes this is about the Mulvaney thing", and this feels like a step in that direction if not in any way perfect.
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