While I agree with your first sentence, separation by national heritage is impossible for many demographics in the U.S., including both white and black Americans.

But yeah, I think abstracting 60% of the world population as a monolithic "Asian" category is disingenuous and betrays the lived experiences of Asians from historically disadvantaged and poor countries. I think the Gates Foundation is on a good track by considering Asian students for their full ride scholarship, alongside Native American, Hispanic, and Black peers, by analyzing the specific lived experience of the applicant (a Southeast Asian refugee has lived a different life than the "steretypical" Asian American applicant).