It's good old racism. Just try replacing the group name...
The only irony is that racism and sexism are politically correct as long as they are directed in the "right" direction.
This is demonstrable, but not from the White Tears mug. The mug's talking about an attitude. And just to dispel this silly "What about a Black Tears mug" notion limping around the thread, ask yourself if a mug referencing centuries of enslavement and opression is the same thing as a mug referencing whites who think the vg industry is out to get them because they are making more games with women/gays/minorites.
If we want a real example of politically correct racism, it's black comedians dissing white people. I don't mind it really, because it's harmless and when done right very funny. But it's still accepted racism. Generally speaking, punching up is ok, and that's a sentiment that extends well beyond race, but includes race as well.
Also, I don't think that's irony. Not that I often use it correctly.