No, I would argue the holocaust and more are confusing cultural disagreements with racial stereotyping which have more to do with (surprise!) culture than race. I think it's much more believable that a large group of people grew angry with a culture of racial inclusion in financial matters leading toward the ease of hatred of a racial stereotype than the actual genes involved. Race is the identifier, not the cause.

If it wasn't race, it would family names or family colors/flags, gender, buck-teeth or what-have-you, as shown throughout history. Bickering and bigotry aren't reason for arbitrarily changing things.