I wholly agree with your points here.
And in truth, I've been looking at this discussion for a bit, and it occurs to me that I really don't like the word "pandering". And I thought a bit about why I dislike it.
To me, the use of "pandering" always seems to carry the implication that representation of women, POC, LGBT+ people, Muslims, etc. always has some kind of ulterior motive. As if nobody could ever decide to include a main character in a story that isn't white, male, heterosexual, cisgendered, able-bodied, etc. just because it's part of the story or just because you give the role to the best person for the job. Or that, for example, a South Asian film director might try to tell the stories of South Asian people and their lives, communities, and experiences.
Instead, when something is described as "pandering": that something is always implied to be solely the result of someone trying to cash in on progressive values and representation. And that any media which contains prominent representation of people, communities, or social groups that have historically been marginalised is, in fact, just a cynical plot to earn money.
And at the end of the day, I think of that as a very corrosive attitude.