My point was that if a gathering called "This is the Godfather-themed Party" was held, I doubt it would make headlines.
Well, one, there's a big difference in associations here. "The Godfather" doesn't necessarily tie to racial stereotypes about Italians at the same level that "Crips" does to black Americans -- you could easily have a Godfather party without being as racially offensive as this (though certainly one could also load it with offensive racist bullshit.)
But also, there's kind of no point to this hypothetical because it
isn't real. In America you get oblivious white kids holding parties or wearing costumes all the time that are racist against blacks, and the same phenomenon doesn't exist in reverse -- that's pretty much a textbook example of privilege, where the white kids don't see any problem with it while the black kids have in all likelihood been brought up to recognize that bad things could happen to them for mocking whiteness. The very fact that this phenomenon is so specific to white college kids is part of what establishes it as racially problematic.