Not at all.
There are many more set asides besides on race.
Small business
Women owned
Veteran owned
Minority owned
Alaska Native (google the stories on Alaska Native Corps)
They all end up serving essentially as “front” companies on major procurements to the big boys and cost tax payers extra money
You forgot few others.
Service Disabled Vertern Owned
HUBZone Businesses (10% advantage when bidding Prime for these businesses operating in economically disadvantaged central city areas)
And don't forget the newest category of set-asides: Economically Disadvantaged Woman-Owned Small Business. (as opposed to the standard Woman-Owned, which has been around for years).