And as I recall, the subject of the chant was directed not at BYU fans, it was members of a particular religion. Not all BYU students nor fans are Mormons, nor are all Mormons BYU students or fans.
And if you're going to judge the actions of members of a religion that might merit eliciting a bad chant, Mormons are probably not highest on the scale when it comes to actually doing anything that in any way infringes on other human beings.
Imagine if you switched out Mormons for something like...Methodists or Mennonites.
Or some other hypothetical religion that started with the letter M.
Maybe they should replace Mormons with Cougars, although 30 to 50 year old ladies might find offense with that.
Woke culture is hard.
Here's a compromise, let's just have everybody chant "let's go Mormons" and what they really think can be between them and their own God(s), presuming they choose to believe in any type of higher power.