I don’t see any problem here. Racism existed before capitalism to justify slavery and has a new function after the abolition. In fact, before the abolition, it functioned to divide different oppressed groups, as it does today.
If anything, the meme says that racism was a precondition for capitalism. If capitalism needs racism, of cause racism must be older, otherwise capitalism could not have developed.
Ok, this implication wasn’t obvious for me and it truly is a stupid take