To an extent, yes. Otherwise it would still be acceptable for people to go round calling them pakis.
People cry about policing language, well what exactly do you think precipitated the change to becoming society in which it isn’t acceptable to call people poofs, coons and pakis?
Policing is such a loaded term anyway. Your freedom of speech isn’t being violated, as far as I’m aware nobody is calling for anyone to be punished for joining in this joke. I haven’t even seen people being branded as awful racists either, nearly all comment I have read totally acknowledges that no offence is intended and that there isn’t malice behind it, but that that doesn’t mean it isn’t offensive or wrong.