Yes, it is associating Mario with racial stereotypes. But how is that doing anything except promoting the stereotypes? Where is the leap that says that the stereotypes are wrong?
If you don't believe that Jews are moneygrubbing, you see the joke and you go "oh, Mario does match up with that stereotype."
If you do believe that Jews are moneygrubbing, you see the joke and you go "oh, Mario is like a Jew."
There's absolutely no commentary there. It's mindless. It's just throwing the stereotype out there and getting you to laugh out of sheer familiarity.
This is one of the most pervasive ways of spreading racist ideas in modern Western culture. We know that we aren't allowed to say these things in public, but we can spread them by the ways of jokes. Then, when you're comfortable with the people around you, then you get to gradually open up about you believe there was truth to the things you've been saying all along.