Joe Rogan isn't hurting Spotify
Even though Neil Young and others have left Spotify, listeners have stayed. The fiasco involving Joe Rogan and covid hasn't made a dent in their bottom line. They're still growing by the millions.
I don't see SoundCloud, YouTube, Google, Amazon or any competitor really coming close to them. They don't have the sociability of Soundcloud, but people aren't there to meet other listeners. They just want to listen to their music and do so in an accessible way.
This is a lesson for people who try to cancel other people. Your only playing yourself.
Spotify can't afford to take down Joe Rogan because a few artists are protesting him. If they did, it would be open season: they'd effectively be telling all of their popular artists that they can singlehandedly censor another performer by removing their own music catalog from Spotify. They'd be encouraging that behavior.
More broadly, I'm not sure just how much we want platforms to be censoring people. Obviously there's a line beyond which, sure. Terrorism, violence, human trafficking, etc. But when the line starts to get blurry, we're better off just accepting that there exist people who say things we disagree with, and that's life.