When I was young and I first read Lovecraft for example, there was some racial things that were glaringly obvious to me (particularly as a New Englander). I didn't need a content warning to prepare myself for that. And I don't need a disclaimer in order to reach the conclusion that WOTC doesn't hold views expressed in IP they own that is over 30 years old. And the reality of those books is far more complicated than a simple disclaimer can explain. When you go back to older books: there will be ideas there that you might find objectionable. I would expect books made in the mid-80s to reflect what was acceptable in the mid-80s.
I think the issue can be that it's not always a simple as that, especially if you're within the groups targeted.
With Lovecraft, reading it in the UK in the early '90s, I was not warned about it being racist, like at all, and indeed the racism initially was so bizarre and extreme, I didn't even read it quite as racism, but as like, talking about beings that weren't human. It was only as I read more that I realized "Oh, he means like actual normal Black people, holy hell this is super-goddamn racist!". As I've mentioned before there's some stuff where even manages to be racist against Irish and Scottish people, which is pretty eye-popping.
As for "
it was acceptable in the '80s" I think the issue is that some of this stuff wasn't even then. OA was though. Indeed, I would argue OA (specifically) is actually
less racist than a lot of stuff and
less problematic than a lot of '90s stuff - but the difference I think is that the '90s stuff was raising a ton more eyebrows at the time. Like, World of Darkness: Gypsies pretty much immediately started getting called out for it's crude attempt to "flip racism" which ended up just being SUPER-racist.
I think it would be nice to have slightly better disclaimers on some "serious offender" books. I don't think every book which drops in a bit of casual misogyny or the like (because loads do - we've barely talked about that, but the tables in 1E are the tip of the iceberg!) is going to be able to be covered, but stuff that really "floors it" on the racism/misogyny etc. front may warrant a better description. I mean, last I checked, GAZ10 basically doesn't even get called out as "BRACE FOR RACISM!!!" in its description by Shannon Applecline, it's just more "Haha this book is pretty quaint!". Someone out there probably got quite a "What the..." moment if they were just buying a bunch of Mystara stuff and got to that, unsuspecting!
Again this may be a generational thing.
I think it absolutely is, and honestly I see where your generation is coming from in a lot of ways (I mean I'm presuming you're slightly older than me, I'm 43), because the politicians of the Gen X era were very, very keen on trying to ban everything media-wise, with heavy metal, D&D, video games, sexy music (the Satanic Panic is sort of a few degrees to the side of this as it never really penetrated government above a fairly low level) and so on. It's certainly enough to make one pretty concerned about that kind of thing.
I think it's one of those pendulum things though and maybe Gen X is perhaps, overprotective of some
perceived attempts to shut down "free speech" from younger generations and that the definition of free speech is sometimes stretched a tad widely - hence the whole "cancel culture" vs "consequences culture" discourse (is it "against free speech" to decide not to buy a thing from someone you think is a jerk and to say so?). The big difference being that in the '80s and '90s, the shutdowns were all from governments and related authorities, whereas in the '10s, it's more individuals saying "No thanks" en masse (not even "protesting" in most cases).