You can't say in the public arena that you don't like someone because of their race or skin colour, so often to say something 'racist', without appearing racist, coded language is used, like, we can say we dont like someone who makes terrorist fist jab, a term first coined by Fox news in reference to the above photo. (When in fact, no-one really made any terroridt fist jabs).
It's strange to see the New Yorker take it up, along with flag burning, idoltaration of Osama Bin Ladin, racial stereotypes, (the Michelle Obama hair dos just don't match up,huh?) and all that's missing is a copy of the koran on the mantlepiece.
The New Yorker says it's satirical, but in order for it to be satirical the magazine cover needs to send up the people who make up and believe all this crap. And it spectacularly fails to do that. It only propagates the myths and validates coded racist language.

The fist bump is here, in Obama's presumptive nominee speech, it comes in at 51 seconds. To me it looked like a gesture of genuine affection.