There are some psyops for sure. And also shitlords who farm outrage "for the lulz." But sadly, I believe it's mostly genuine, and it's largely a reaction to the various failures of the postwar liberal order and the political-managerial class.
It's the ultimate middle finger to "the system."
And there's certainly something to the left calling everyone they have the slightest disagreement with a Nazi that waters down and normalizes it.
But I think it's mostly a natural consequence of, and reaction to, the left, and whole swaths of the postwar West (in education, media, and practically every Western government to some extent), rejecting equality and classical liberalism in favor of equity, and some flavor of what has been labelled "gay race communism," which I don't have a better name for.
If you reject equality and merit, and put your thumb on the scale, there's no convincing argument as to which direction that should go. It's just as easy to make the case to discriminate in favor of "minorities victimized by colonialism" (as reparation) as it is to make the case to discriminate in favor of "white Europeans who brought the light of science and civilization." (as reward)
i.e. we should help funnel resources to victim groups because this will help set everyone on equal footing, which is good
vs.
we should funnel resources to the achieving group and this will help drive further achievement, which is good.
(in both cases discrimination is likely to fail in achieving its stated goal, and indeed backfire, while proponents will demand increasingly extreme measures, forever, until the whole rotten mess collapses in on itself)
If you reject liberalism, then "gay pride month" (because group victimhood) is no more or less valid than its dialectical opposite in a hypothetical "white pride month" (because group achievement).
Most of us, myself included, intuit the former as less bad (if you're conservative, or even as an absolute good if you're a progressive) because our ambient sociological environment is Marxist-colored instead of fascist-colored. But they're really ~equidistant. In some mirror universe where Stalin is secular Satan instead of Hitler, our intuitions might go the other way.
Basically: we have an illiberal moral function driving much of society, that disadvantages some groups due to the argument passed into it, where passing a different argument could invert the outcome. Any argument passed in asserts its own own truth. None can be proven or disproven.
Is it any wonder why many adversely affected might desire to pass in a different argument?
It's one thing to be structurally disadvantaged when times are good and fortunes are rising generally. It's another when times are bad and tides are receding (which is, if not the truth, certainly the overwhelming perception)
Why agitate to tip an illiberal function in your favor, as opposed to replacing it with a liberal one?
I think to some degree it's easier to substitute an argument than it is to replace the entire function... but I don't think that's a complete explanation. I suspect there's something retributive to it as well.