Well, it's both. Not to be too annoying, but there are multiple layers of racism going on in Israel to my understanding listening to scholars (not the Zionist shills) on the region of Palestine and modern Israel broadly.

For one, your point is objectively correct and displays a pretty clear streak of white supremacist "black people can't be Jewish sentiment" (not the only case either, unsurprisingly).

But there's also absolutely an overarching Jewish supremacy mindset amongst Jewish Zionists particularly ones in Israel. You'll hear cope and excuses made for it. The idea of "the fighting Jew" and whatnot. Like this conscious rejection of what some Zionists (and I'm speaking about Jewish Zionists specifically for this part, just to make that clear) think of as the "weak Jews" who "went like sheep to the slaughter" in the Holocaust. There's a lot of weaponizing of the Holocaust and past wrongs done to Jews as a whole to "justify" the last 75 years or so of oppression against Palestinians and Arabs. And it's done strictly on the ethno-religious lines of "we are Jewish. They are Arab/Muslim. We have a right to conquer them if we can, just as they once conquered us. This is just revenge and justice." Along those lines.

Then there's inner-Jewish colorism or racism or however you want to word it. Between the dark-skinned Jews from Arab nations like Iraqi Jews, etc. or Jews from Iran, etc. including of course Ethiopian Jews and other Jews from Africa, Northern Africa mostly and the lighter-skinned white Jews from European nations or the US but first from Europe generations back. Like a tiered system not unlike US racism where more white is seen as better. Which is pretty ironic all things considered, but, you know, racism rarely makes logical sense.

So it's a society that currently places all Jews above everyone else by default. But some Jews are higher than other Jews. It's one of the most absurdly racist societies I've ever heard of outside of the American south during slavery and then Jim Crow where your skin color, your race, determined your entire life. And while that remains true to a depressing degree in the US, it's so much more in the open, unapologetic, and prosecuted daily in Palestine by its colonizing hell-nation. The elevated level of fascism on display should make it repulsive to anyone who calls themselves a liberal, but, alas, they fear reading anything factual on the situation and finding the truth. Or, they have read and they find themselves agreeing that Israelis (and Christians in America happily cheer them on...) have the right to do quite literally anything in their colonial pursuits.