New and confused, for sure.
I don't think they've swallowed neoliberal individualism though. They've swallowed a kind of feelings based subjectivity, which seems at first glance as individual, but it never manifests that way. It always has to manifest within quite demanding categories.
Real individuals are swallowed up in the group identity. You aren't really black if you didn't vote for Biden, people like Glen Lowry can be called race traitors because they don't toe the line on race is the US (an idea that has been defended here on FWR within the last month, if I recall correctly,) Douglas Murray is "straight acting" because he's a conservative, you need to make a land acknowledgement in Canada at a public event even, or else you must be a bigot, though many First Nations people think it is stupid and annoying, etc.
Whatever institutional structures are in place, the elite will adapt to them to acquire power and money, so of course these new categories are being exploited that way. One of the ways the left seems to be particularly naive is in thinking that left originating institutions are going to be better at resisting that than conservative institutions.