No, that would be ableist, or maybe eugenics.

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.