Well...
Right there. The continued existence of inherently evil races is self-justifying. The fact that they're racist stereotypes is causing problems. So clearly removing the racist stereotypes is a good in-and-of itself. But, then the race needs a new justification to remain...according to you. I disagree. There are plenty of things in the game that exist simply because they're fun, interesting, or a legacy. No reason that should be any different with orcs, goblins, trolls, etc...once the racist stereotypes are removed.
So the point of including orcs, etc is the racist stereotypes? That seems like what you're saying because once that's removed you need some other justification for keeping them in. The racist stereotypes are not the point of orcs, etc, it's an incredibly harmful knock-on effect. We can keep the orcs and toss the racism. The point of including them is that they're fun, interesting, or a legacy. Or any number of other reasons.