Numerical minority or majority is just one possible criteria for defining power and influence, and given that it is up the person justifying the hate to define their own criteria, they will pick whatever is convenient. E.g. over-representation in key areas is enough.

But if you think a numerical majority is the sole basis for "punching up", then the Peninsulares must have been punching up against native born citizens in Gran Colombia. Or the Jacobins must have been punching up against the peasant-farmers in France. Or the urban Chinese Communists must have been punching up against farmers in the provinces. So of course, these criteria are picked when convenient and discarded otherwise.