Your friend is one of those cases, and I am not blaming him or his kids for utilizing the current situation to their advantage, and I don't feel particularly bad about someone getting a lucky hand and playing it well. Good for him and his kids.
But on the flipside, imagine being an asian-american kid coming from a poor family. Not only you get disadvantaged by the financial situation in your household, you then get screwed over by the DEI initiatives on top of that. Too bad, kid, shoulda aligned with the "stereotypes" assigned to your race by DEI better and had well-earning and educated parents. And given how DEI policy supporters often use the "it is for the greater good as a society" argument, it feels doubly dirty and insulting to those individuals.
Even the factual outcomes and effects of such policies aside, officially assigning those "economic stereotypes" to various ethnic groups and treating individual people in those groups based on those "stereotypes" (derived from aggregated data for that group) just feels icky.
He is also fair skinned, blonde and blue eyed - as is his family. He objectively looks "white". Why does it matter? Because in the current DEI world, he and children can mark "Hispanic" or "Latino" on all forms (I may be wrong here on whether it is both).
His children will therefore benefit from many advantages granted by DEI benefactors. Lost in this crazy DEI calculus is that this is a wealthy family.