I do think it's appropriate to think of this ideology primarily in racial terms. Virtually any issue supported by the left today is, in its essence, about stripping white people of power, identity, and autonomy, and giving that power to other groups.
Diversity, equality, multiculturalism, globalism, "one-world"-ism, pro-mass-immigration, all of these terms mean "not white". It's perfectly easy to see that, because all "white" cultures are treated differently in this paradigm, as "oppressor", "colonialist" nations/peoples, "majority/minority", "privileged", etc. These terms don't apply to other groups.
The amorphousness and formlessness of this ideology and its lack of coherent theoretical basis (as opposed to something more rigidly principled like Marxism, libertarianism, etc) is what provides cover for its true aim, which is political power for its adherents.