No it's not.
"Pacific Island" is not a race.
If anything it's an eligibility team, like all teams in Super Rugby. It's for players from the PIs, of PI heritage, eligible for the PIs, or eligible for NZ. It's actually more open than other Super teams (Australian eligible players and Pakeha players turned out for the team).
If it was based in Samoa/Tonga then I predict you wouldn't be using these arguments against it. Do you have an issue with the Drua? I assume you had no issue with the Jaguares (which was only open to Argentinian players) or the Sunwolves (which was only open to players eligible for Japan). You only have an issue because it's based in NZ.
There's no need of those teams to exist. Pakeha NZers are well represented with accessible pro teams in NZ. On any given weekend in NZ and Oz you're likely to find teams of different ethnic or cultural backgrounds playing each other in league and rugby. It's not an issue unless you're wanting to make it one. But even so, I've played rugby against a Pakeha team before. There was no outrage. Also MP is really not discriminating against anyone. It would not exist if not created to be a PI team. If it was financially viable for the team to be based in the islands then would you have an issue with its existence?
TBH, when responding to your original post I didn't even think you were complaining about it from a "race" viewpoint. I actually thought you were suggesting we're not doing enough to help the islands. I guess I read you wrong.
Hilarious pot calling the kettle black considering league eligibility rules that allowed players to change teams on the eve of a competition, during a season, and has specific SOO rules that preference one type of Polynesian ancestry over another type of Polynesian ancestry, and over any European ancestry (to the benefit 3 or 4 countries over the rest including the most powerful and rich country in the sport).