For the purposes of this article I will be using Tumblr drama to mean roughly “publicly calling out some entity’s ethical transgression (and ensuing discussions)”.
Starting with the obvious: not all Tumblr drama is created equal. In determining whether a particular contribution to the Tumblrdramasphere is positive or negative, I am concerned primarily with three classes of affected people and two classes of effects.
The first class of affected people is you (“the speaker”). What will the consequences of speaking be? How will speaking make you feel, and how would different possible responses (including hate speech and harassment) make you feel? You may or may not have the most at stake, but in either case you are a human being and how you feel matters. Consider doing a back-of-the-envelope expected personal utility calculation. (But if you do, throw it away immediately. It’s not accurate.)
Also consider how speaking will change you. Acts become habits.