I think in the main, this is right, but there's a part missing. It really only happens to the poor. So it's a great way to make people more racist and sexist. They've essentially told poor white men that they're being replaced in some cases with minorities or women, and further that if they bitch too much, they are privileged. So while the children of the rich see this as a grand and glorious project in making society more equal, to poor whites, it's a gun pointed at their paycheck.

In the civil war, they had race riots. The thing was that the war to end slavery had a draft, but it only drafted those who couldn't pay to opt out. This is the same deal. If you have the means to get to the high tiers, you can opt out of having your education, your job, and your promotion held back to make room for someone else. And when it's YOU, you naturally resent the person who gets in ahead, be it AA, the boss's kid, or the guy from the boss's frat or alma mater.