This is actually very spot-on. The Latin American society still follows the hierarchical racial structure set by the European empires that ruled their land. Despite mixed (European and indigenous) mestizos being the absolute majority in most countries, there's a scary overrepresentation of white people in media (take a look at news reporters, telenovela main characters, etc.) and politics.
The thing is, race and class are pretty much intermixed in the Latin American society. White people there often hold the economic and political power and belong to the upper middle class and upper class. The more "European" you are, the better off you're regarded in society, and thus people of Amerindian descent (who are still at the very bottom of the hierarchical system) try to "convert" themselves into mestizo by adopting mestizo cultural values and sometimes rejecting their own indigenous culture. This was very clear to me when I lived in Bolivia; if a person lived in the countryside, dressed traditionally and followed certain cultural customs, they were considered indigenous, but if that same person (or their children), moved into a urban area, adopted mestizo cultural trends (which almost always means adopting Western-based cultural elements: music, movies, fashion etc.) and spoke Spanish exclusively, they would be considered mestizo, thus climbing up in the racial-class social system. Interestingly, as a result of having more indigenous people claiming to be mestizo, more mestizo (particularly those who are light-skinned) started claiming to be white/European, also in order to climb up and disassociate themselves of those of lower classes. That's why in countries like Bolivia, while there are actual European populations living there, many people who self-declare as white would not pass as such in other countries (particularly Europe or North America).
You only need to see Latin American media to realise this, as it is very evident.
