If you want to admit more underprivileged people into colleges, you should do it by class, not immutable characteristics like race and gender.
Having been through multiple corporate DEI training programs, here's what gets me the most: the idea that "people of color" are these fragile beings that are liable to get offended at common terms like the linked and that our language itself is problematic. This is so ridiculous to me because I know and work with "people of color" they aren't the fragile beings that white liberals (the actually fragile) project onto them.
It's a joke, it's a waste of time, it's a waste of money and as the study in my OP points out, it is counterproductive.
Link: https://www.it.northwestern.edu/about/it-projects/dei/glossary.html