Having counted the rings on other trees of similar size I'd say 500 years might be a stretch for that one, but 100 years was a humble estimate.
As far as the clear cutting goes, these sorts of trees are not turned into toilet paper, or cardboard. You can see the truth in that they are actually mostly still just laying on the ground where they fell, only the largest have been taken. Clear-cutting is completely non-sustainable.
I'm not opposed to logging, because of course, we do all use paper products and nobody is innocent. But there are better ways to do it. Clear-cutting absolutely destroys an ecosystem. In temperate regions like here, it takes over a thousand or more years to restore back to the forest that you would recognize.
There are many logs laying on beaches, already laying in clear cuts like these, or drifting in the ocean, ENOUGH logs, this I know. I don't condone clear cutting on any level. Selective logging is the only way to do it remotely sustainably and it's the only we had been doing it for hundreds of years until now.
That being said, I don't condone the logging of Yellow Cedar at all. I find these trees much too powerful and ancient to cut down. I don't think I would be able to have that resting on my psyche. Now a hemlock is a different story...