It feels a bit weird when people speak about racism in fantasy genre. It is my understanding that "racism" is the type of prejudice that's always out of line with reality, but in fantasy fiction reality is different, usually.
There is only one intelligent species on Earth - humans. So all racist things happen between one species, and so all of it is bullcrap. But there can be dozens of various intelligent creatures in any fantasy world. Undying "magical" elves, demons, fey, trolls, gods, demigods, undead et cetera. And these creatures can be dramatically different.
Is it racist for a white human to say that white people are inherently more intelligent than black people? Yes, it is, and this white human is probably an idiot. Is it racist for a dragon to say that dragons are inherently wiser and stronger than humans? No, if dragons were made wiser and stronger by authors, then it is simply a declaration of fact.
Just my two cents. Sorry if my English isn't perfect, me be no native speaker.