As an old time gamer myself (started playing in 1980), I think the changes WOTC has made are great overall. That does not mean I like everything they have done, although I do like most of it.
Before I go further I want to talk about the word "race" - From my point of view what "race" refers to in D&D is not the same as what "race" refers to IRL. Race IRL encompasses people who are all human and from different areas or cultures, while "race" in D&D refers to different species. For example in D&D we do not say humans native to Chult are a different "race" than humans native to Rasheman, on the character sheet both say "human" or "variant human". IRL these would be different "races".
With that in mind, I don't find much actual "racism" in D&D, modern or legacy. That is not to say there is none. Certainly 1E Oriental Adventures, several modules and in more recent times the portrayal of the Vistani certainly have racial overtones and I am happy to see them gone.
I am also happy to see the tropes around orcs and other humanoids go away, especially WRT mechanics, although IMO these are not "racist" in terms of the IRL definition of the word. That said, I like them being gone because they lead to a more flavorful world and more variety in character builds. So I am all in on moving "racial" bonuses and adding "typically" to alignment and things such as that.
Finally 1e and 2e are chocked full of sexism and I am glad that is gone and do not want a return to it. There is certainly legitimate scientific evidence of differences in traits which are tied to biological sex, but there is no reason at all these should exist in a fantasy world. If as gamers, we are willing to believe that someone can turn himself invisible or teleport to the other side of a room we should be willing to believe that males and females can have the same strength, height and weight. As I heard a gamer once say - "I have flames coming out of my hair, I'm wield a flaming sword and you are concerned that I should not be 7 foot tall because I am a woman?" Again let people build and play the character they want. I don't really see a lot of sexism in modern 5E, but maybe I just missed it.