That's one way to look at it.That sounds like Monte Cook and Wolfgang Baurs sense of hunor..humor...
To be fair, WotC slapped that label on everything in the DMsGuild once people started talking about Oriental Adventures online seriously. So they just assume anything old they sell is offensive, apologize for that, and take the money anyways.
Or rather, an acknowledgement that past products were not written in the same environment we are in today. And to go through each individual product and "judge" it would be a fool's errand, hence the blanket warning label. The right move, IMO.