Progressives have turned the word racist into the boy who cried wolf word.
You are correct, it has virtually no power now. The ironic thing is that conservatives had no hand in its dilution.
There IS racism. There IS injustice. It is NOT in a cartoon about playing around the pool. If you look for something, you will find it wherever you want to. Unfortunately, as you say, it is a 'boy who cried wolf' scenario. And AS such, true racism will be swept into the same tidal wave.
I saw 'Free State of Jones' last night. Now THERE is racism. The victims of the times back then would shake their head at the BS going on today in the name of "racist". In *their* time, it meant being castrated and hanged in the meadow.