And I would say that the racist claim is that there is observable correlation and that genetic explanations are about as probable as other explanations. But I suppose many non-genetic explanations (eg cultural differences) would also be counted as racism, since in these kinds of discussions race and culture are often jumbled together.
The implication that if one group was shown to have a measurably lower intellect they are less “human” somehow is really worrying.
And the way IQ is used in modern racist discourse is not this. Instead, the claims are "black people are not less well off on average because of racism in society, either old or current, they are less well off because they are dumber (have lower IQ) on average, so it's only a consequence of that, as dumber white people also tend to fail to get as much success". This is the argument being made, at least publicly, by most modern day scientific racists.
What does it mean to be human?