There was a nuanced interview on NPR about this subject recently.
For me, it’s all about context. Is the person in the racial drag just putting it on to be like, “Hahaha! Look at these low-class funny beings who do things that I don’t do and behave differently than I do, so they’re stupid!”? That’s what most ”-faces” were for, even in the recent past – to put down other people.
If it’s clear that a person is portraying a person, a character who is relatable as a human being (and I’m not talking as if its got to be all deep like Othello or something), and not just a bag of minstrel show stereotypes, not acting like a buffoon like those Aussies on that talent show, then that’s a different thing. Context.