Right now, it's mostly peer recognition which is prone to favor projects the dominant demographic finds cool. But I could see the competition based on revenue be more democratizing.
"Giving opportunity" would be more appropriate, and is the vocabulary Daniel Gross uses. He specifically mentions that he wants to find more female founders. I hope he succeeds; I am just a bit shocked by the state so far. It would be great to know what is causing this imbalance, whether it is its avenues of marketing, the messages it sends through marketing, or something else. Because there is a lot of diversity out there.
Sounds like you are concerned that it would be a move towards a direction that is less fair rather than one that is more. Asians/Harvard is unfair. I think the point is making sure opportunity is given fairly so that individuals can be evaluated based on merit.