I think that well describes the situation. I wouldn't call everyone in the riots racist, but definitely there are plenty of them. Furthermore, I think the majority of them are probably in shit jobs (or even jobless), have relatively shit jobs and lives, and then a couple of parties blamed everything on immigrants and Muslims, and now they actually see people with a different tame of colour and think that just getting rid of them will make their lives better.
It is going to be a massive problem in the future, I think. Just calling these people racists and putting them in prison won't solve the issue (after all, the Caf told me that harsh sentences in prison do not have deterrence power). If the country struggles economically, the easiest way to get power is by giving simple solutions, usually in the form of 'it is X group of people's fault'. The UK is improving economically, so these people have something to do with their lives, or we will see more and more riots like this.