I don't see it as hopping on the PC bandwagon, and there are lots of reasons a person might dislike it for, but really, the themes are not unique to this episode. It's just that something like Dukat saying Cardassians are naturally superior to the Bajorans just doesn't quite hit home in the same way as real world examples of human racism in this ep, and I think that's the whole point. Racism still exists in DS9, but it's making the point that humans aren't as bad as they used to be.
But I can definitely understand not liking it because of how heavy-handed it is (and Sisko's enunciation!),