Context is always important. If someone says or writes something where they are showing intolerance to another race, then I have no issue with that person being called out, either by myself or others.
But I also don't feel it's appropriate to throw it out indiscriminately, either.
For example, I disagree with K17's use of the term Chinese Virus, but he's explained why he uses it. I know his position, so I won't call him racist.
At this point, with multiple, more specific, more neutral, and easier names, there's a red flag to me when someone insists on calling it "Chinese virus". People who are driven to blame China and create an agenda against Chinese people anoint the place of origin to push the attitude of who to blame. Not all people who say it are racists, but people with racist agendas say it. It's a matter of going out of your way to associate the virus with the Chinese since modern dialogue gives you exposure to the other options.
Though to be frank, I won't call someone a racist just because they use the term "Chinese virus" but I do adjust my dialogue when dealing with everyone - their choice of language being a factor.
In this case, I have less of a problem with the media calling the tefm racist than the term itself.