How is this any different from networks firing hosts / pulling content because sponsors threaten to pull their ads?
I'm fully on the "fuck corps that cave to China's childish demands" side. I'm still boycotting Blizzard after the Free HK scandal.
But I think it's their choice to capitulate for access to China's market, and it's my choice to stop doing business with them as a result. I don't think it's the government's place to essentially tell a company they can't do business in China, unless it's literally a national security thing like electronics with Spyware / backdoors.