Absolutely.No, that's not it at all.
People can have different opinions about the relevance of H.P. Lovecraft's racism to his work, but you can't deny his virulent racism. I don't think that making a book that is using themes of alienation and Lovecraftian horror to explore race relations in the context of nerd culture is exactly "pulling a fast one."
I was exhibiting the train of thought that goes
"sees Lovecraft something" ->
-> expects "cosmic horror of the unknown more than gore or other elements of shock" ->
-> "becomes disappointed by show"
...and nothing more.