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On one side, it’s starting to feel forced and trendy to go all rainbow for a month and then nothing for the rest of year.
My (American) company, located in Ireland, likes to rainbow it up for the month for June and use me and others as a token statistic but the rest of the year it seems they couldn’t give two shovels. Honestly sometimes it feels like nothing more than a marketing and PR stunt.
On the other side, it does publicly announce that a company is (supposed to be) inclusive and all that but in my experience there’s been little practice what you preach. It’s still better than nothing I guess.