“To use a philosophical analogy here, racism is not based on some empirical gene

“To use a philosophical analogy here, racism is not based on some empirical generalization; it is based rather on an ontological affirmation. It is not the assertion that certain people are behind culturally or otherwise because of environmental conditions. It is the affirmation that the very being of a people is inferior. And this is the great tragedy of it.”
(From MLK, “The Other America,” which was a speech he gave at Stanford University in 1967. For the entire speech, see: https://youtu.be/dOWDtDUKz-U)
What is King’s main point in this quote. Do you agree with him? Explain why or why not.