I would characterize it slightly differently, rather than everything "being" institutionally racist, it's more like racism creeps into all of our institutions. Instead of thinking of racism as a yes/no binary with intention, I think it's more useful to think of it as something like "fairness." Can an institution have an intention of being more or less fair? Maybe, but it doesn't really matter. We usually want our institutions to treat everyone fairly, and when they fail to act fairly, it's sometimes because a person wanted them to be unfair, but more commonly just because of systemic effects that randomly combine into unfairness.

So it is with racism in our society and institutions. It starts with housing and education. Housing is still as racially segregated as it was in the 1970s, and that leads to massive differences in average opportunities. Which leads to familial wealth gaps, and which leads to further disparity, because families that can't help a member that has a broken car, for example, can set back a person early in their career when they get fired because of it. Which leads to further snowballing of opportunity and financial pain. It's like starting the game of Monopoly when a bunch of the players have had dozens of turns of head start. Even if the game is "fair" in that there are no explicit barriers to buying and selling a property or paying rent when landing on somebody else's, it's unfair because the staring financial position was quite different.

So this can't all fall on tech companies, of course, but as major pillars of modern society, they bear some responsibility of fixing the problems that persist.