NAACP stands for "National Association for the Advancement of Colored People". Interesting how "Colored People" was an enlightened term in 1909, but "Colored People" is now out and "People of Color" is the new way to go.
BIPOC definitely reads like "Black and Indigenous people, and the rest." Which makes sense since the intent of the term is to "center the experiences of Black and Indigenous groups." Can't effectively center something without moving everything else out to the margins.