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Ownership may not be the same overly-Disney-Park-PC-nonsense that was here for decades, but this still may have been their call.
Beyond that, regardless of actual morality, the perceived morality from the casual fan if they did nothing could have had an impact. I'm not going to say there would have been picketing and boycotting but can you say that there wouldn't have?
I didn't find anything specifically racist except for the associating of separate phrases that might or might not have been intended that way. The hammer did come down a bit hard in my opinion.