Not everything that's racist is a major social problem. The belief that it is and subsequent overcompensation to "combat" it has caused far more harm to society than the minor, incidental racism. On top of stifling everyone's ability to actually talk frankly and honestly about race and creating a whole lot of resentment, its enabled a generation of narcissistic grifters, many of whom are straight up sociopaths.
And that's not getting into how the current "antiracism" craze is openly racist against white people, often in more extreme ways than all but the most fringe cases of the racism they claim to be combating.
In short, the song was right, and if anything is more timely than ever.