First, 100% a red flag. Even if they wanted to give some sort of "I trust you with my life" sort of video, there's a bunch of better ways to do it. Going for a racist rant makes me think that they're a racist.

Secondly, this is deeply submissive - they're giving you the power to ruin their life. If you want to do that sort of stuff as a couple you should really talk about it first and be on board with receiving that sort of power and responsibility. Entirely possible+reasonable for the receiver to find this shitty because they don't want to make a choice like this, especially if these are truly held beliefs.

The healthy response to this is to send them to a therapist. And definitely dump them if they're actually racist.