Larry Elder had an interesting take on "systemic racism" IMO: https://www.youtube.com/watch?v=phPXTWJhnYM
It's also not vague and handwavy. If you'd like to explore an example of institutional racism, check out the Parable of the Polygons. It's a clear, simple model with repeatable results.
https://en.wikipedia.org/wiki/Parable_of_the_Polygons https://ncase.me/polygons/
Just because a policy seems reasonable and has straightforward justifications for all of its pieces doesn't mean it wasn't maliciously designed to another purpose. The stated intent is not always the only intent and if the results...
I don't know what you mean by social engineering, by the way. I've only heard it in the context of hacking, like calling customer support and pretending to be someone else to try to get their mother's maiden name or whatever.
For example, Harvard admitting less Asians because they are over-represented compared to other races. If you take your view that racism is an emergent phenomenon that you can spot based purely on the outcome, then Harvard was exactly correct to deny more Asians admission than other races, yes? If Harvard didn't do that, then the outcome of their admission process would've been "racist."
Many would disagree with that interpretation of racism.