More like ethnic warfare.
From what I see, it gives an extra advantage to already-rich blacks who know how to play the game. They “allow” a few hispanics to play just for window dressing so that it doesn’t look like a quota just for them. It also creates a lot of high paying do-nothing jobs for upper middle class blacks, like “director of diversity”, and “equal opportunity advisor”. It’s just a far more expensive version of welfare (but at least they have to show up to work for it).
Fallout: I avoid minority professionals unless I know them personally or get good referrals and I am confident of their skills. Do you want someone who got in with subpar grades/test scores and was coddled all the way through school performing surgery on you? I don’t. It’s not bigotry. It’s self-preservation. I have no problem buying products from a minority salesperson or business. Get rid of AA and you will get rid of my aversion to buying services from certain groups.