I think this calls for an elaboration.
the virtue signalling allows the racism to pass as an act. because the signalling is just that, a gesture, not necessarily an action.
i think it reinforces the problem, because it restates the categories of racism. it builds on them, therefore, to me, it entrenches them further. there's no possibility of moving beyond.
i think it also, demonstrably, does not work. it's ineffective, as a long-term project. it relies on a quick win approach, is basically PR. the structural issues remain the same.