The racist part is extrapolating from mass-scale migration of different demographics and cultures that it will cause demographic and cultural change? You may disagree it is a problem, but I fail to see how it isn't true.

You think if, say tomorrow, all 1.4 billion citizens in China were teleported into the U.S., that there would now be 1.7 billion Americans, indistinguishable from the Americans that came before? Or, would it simply be 1.4 billion Chinese, alongside ~300 million Americans (if we're being generous...)?

Demographics and culture are obviously intrinsically tied, each individual migrant holds beliefs and values that have been forged and shaped over the span of the lives that they have lived in their country of origin. This is, and has always, been the case, its just more of a hot-button issue recently because:

A: We are currently getting an overwhelming amount of migration to stave off our own demographic issues, so the strain begins to have a more noticeable impact,

and B: Many of the migrants (from abroad) are coming from countries with cultures intrinsically incompatible with values Westerners have come to expect in their own countries (See: Sharia Law as contrasted with Women's Suffrage), so they stick out somewhat like a sore thumb when advocating to enact such policies and practicing such cultures.

Right, the racist part is equivocating between "demographic change" and "extinction event" and thinking in terms of hypotheticals and extrapolations that aren't supported by data.

And there's all kinds of value prejudging that is entirely external to the data about what cultural change means, what it implies, what effects it will have, all of which involve disputable and extremely politicized assumptions that are trying to borrow from the objectivity of population data for rhetorical momentum in favor of specific preferences of racial composition.