I don't agree with the description of the potential BB closure as an attempt of whiter folks to take advantage of darker folks. First of all, it's not the locals who bring up the idea of closing BB. At least, I never heard / read of the locals complaining of the noise etc. The idea of closure is floated by social activists who want to repurpose the land, and it isn't evident that such an idea has any appeal for the public, including the local residents.
Furthermore, it is not evident who is whiter or darker here, or richer / poorer. Downtown hosts a large cohort of young professionals, who have modern education and come from all ethnic backgrounds. Their common features are a good income that allows them to buy a dowtown condo, and not needing a large space because they are young and have no families yet. Another cohort is homeless / very poor by definition, who congregate in downtown because it is easier to make some kind of living there; not sure they care about BB either way, but if we want to count the demographics, then here they are.
And the Pearson flight paths include residential areas with a variety of groups, too. Sure, lots of working immigrant families, and families of first-generation Canadian-borns; they have enough income to rent or buy in the suburbs, but not in downtown. Those groups are ethnically diverse. But, also many established SFH neighborhoods where the houses were purchased 20, 30, 40 years ago, and didn't change hands since; they are mostly white because the country's makeup was different back then.
The only demographic distinction that can be made here is younger / older. Downtown is younger, suburbs are older, due to the reason already mentioned. Yonger people without families need less space.
All that said, I am in favor of preserving the airport, but for reasons other than demographics / backgrounds of the residents.
The airport provides an extra transportation option, and makes downtown more interesting and more appealing overall. The BB's location is unique and suited for its purpose, you won't find another suitable spot within 10 km of CN Tower, maybe more. While the alternative land uses can be realized in other places, not very far from there.