Of course is racist. It claims that French people are not French because they have a foreign background. That's fecking racist. It's the base of racism to exclude people from a group because of their or their ancestors origin.
And it may be part of the football folklore, but the sad thing is, that football folklore is often racist, sexist and homophobe. It's good to call this shit out. Maybe it's even a good thing, that there often is a debile Enzo in the group that films those things. Maybe they need a little shitstorm to learn a thing about racism.
Yes, he is no necessarily a racist because of that. He may as well be just an uneducated imbecile who never wasted a thought about anything outside of football. And this leads to those racist things, because our society (and I guess the Argentinien as well) is structural and inherent racist. So it's probably good for him to learn a thing or two the hard way.