It's not for helping minorities. It's for helping the PMC stay on top, by making rules that only people who grew up in the right class and went to the right schools will be able to follow, cloaking that function in a nominal reason for those rules that's unimpeachable. And it does that very well.
Yes, pretty sure that this is a reference to the professional-managerial class. It's a common refrain on the populist left/"dirtbag left" that identity politics are often dishonest class warfare. (I agree.)
