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"So...are their genetics wiped out?"

No. We are them. The Caucasians and Mongoloids probably split from a common ancestor and that was probably the Jomon - Ainu people. The oldest (undisputed) Mongoloid skeleton ever found is only 10,000 years old.

Here's another 'take' from Dr Robert Schoch (Geologist/Geophysist):

Dr. Schoch’s Recent Book :

Voyages of the Pyramid Builders: The True Origins of the Pyramids

From Lost Egypt to Ancient America

A startling and dramatic new view of our ancient past ...

By Robert M. Schoch, Ph.D., with Robert Aquinas McNally

We associate pyramids with ancient Egypt. But pyramids are not uniquely Egyptian ‑- and therein lies a great mystery. Pyramids and pyramid‑like structures can be found all over the globe, built by cultures that span vast distances of geography and time. They appear in the ancient African kingdom of Kush, along the Nile ... in Mesopotamia and Sumeria ... in England and Ireland ... in India and throughout Southeast Asia ... in ancient China ... in Peru's coastal and Andean regions ... in the ancient Olmec and Mayan realms of southern Mexico, Guatemala, Honduras, Belize, and El Salvador ... in pre‑Columbian Illinois... and elsewhere. How can it be that a form as distinctive as the pyramid was built in such widely separated locales? Was it merely coincidence? Or was there another force at work?

In “Voyages of the Pyramid Builders: The True Origins of the Pyramids from Lost Egypt to Ancient America” (a Tarcher/Putnam hardcover, 2003, $24.95 U.S./$37.50 Canada), Boston University professor Robert M. Schoch ‑- one of the world's preeminent geologists in recasting the date of the Great Sphinx ‑- suggests that there was, indeed, another force at work. In his eye‑opening new book, Dr. Schoch argues that these far‑flung pyramids share a common ancestor long lost to history: a primordial pyramid‑building civilization that once navigated the seas and spread its way of life around the globe.

Meticulously researched and dramatically written, “Voyages of the Pyramid Builders” lays out, step by step, a fascinating new theory of how the Old World and the New World met:

Evidence that the Egyptian pyramids at Giza (or portions of them) and certain associated structures were built earlier than conventionally believed.
The significance of the striking similarities between pyramid cultures in Africa, Asia, and the Americas, despite the long distances of land and sea between. The rituals, beliefs, and stories that underlie the pyramids.
How ancient peoples emigrated from the Old World into the New World.
How pyramid builders entered the New World from the west and influenced the rising civilizations of Central and South America.
How the pyramid builders sailed.
A theory that ancient peoples may have migrated across vast distances in response to catastrophic encounters with comets.

The possible existence of a lost pyramid‑building civilization in the period before 3,500 B.C., the generally accepted date for humankind's earliest taste of civilization.

What it means to know that the high civilizations of our planet may have been interconnected for much longer than we imagined.

“Voyages of the Pyramid Builders” also includes a special appendix, "Redating the Great Sphinx of Giza," in which Dr. Schoch provides his most recent and persuasive evidence that the Sphinx is much older than we think. For anyone who is interested in ancient Egypt, past cultures, prehistory, early migrations, paradigm shifts, and the origins of civilization, “Voyages of the Pyramid Builders” is a groundbreaking reinterpretation of how we understand our ancient past.

Robert M. Schoch, a full‑time faculty member at the College of General Studies at Boston University since 1984, earned his Ph.D. in geology and geophysics at Yale University. Dr. Schoch has been quoted extensively in the media for his work on the Sphinx, and he was featured on the Emmy‑winning documentary “The Mystery of the Sphinx,” hosted by Charlton Heston.

Robert Aquinas McNally is a writer and poet whose early education in classical Latin blossomed into a lifelong fascination with ancient civilization and mythology.