Let's say you're running a startup and decided to be hip and get an io domain. You reach out to a potential major client who happens to be of Chagossian descent.

They probably wouldn't care for your interpretation of the domain, they just see you supporting the people who relocated their entire group of people from their native homeland.

So, yes, you should be well aware of what the io domain represents and who you're supporting when buying one. Because it might bite you in the ass down the line and could have easily been avoided by just getting a different one without a storied past.

No "cancelling" going on, but just like a lot of other things, it's a risk that should be taken into account.