The people who use it use it to refer to anybody who is black. Historically it was mostly used for indigenous Australians because they were the largest black group around - there weren’t all that many African immigrants until Australia until recently, but I’m sure they cop the phrase.
Most Australians aren’t racist - but unfortunately we do have some who are. And I’ll happily condemn anybody who does use a slur against another - but I don’t think it does anybody any good to focus on things like the name of a cheese. That effort would be better off directed at the actual bigots who are still around.
I don’t even oppose changing some names where the names genuinely are racist on some level - but things like this just make that look stupid.
Australia also had that classic steel wool product, Nigga Boy.
Good luck trying to find it....
Such a snappy jingle....