MM spends the early parts of the series dressed in black panther/Malcolm x/black power fist labelled clothing and making both allusions to systemic oppression in conversation (Including outright calling Mallory out on the crack epidemic), and having his backstory be one rooted in capitalist exploitation and systemic discrimination is the thing. They just don't do anything with it beyond have him not like Stan Edgar.

Also in the literal last episode they call billionaires the "ruling class" explicitly in that White House scene where Homelander meets fake TV show Elon Musk, but uh I guess they can just keep being the ruling class as long as Homelander is dead.

MM spends the early parts of the series dressed in black panther/Malcolm x/black power fist labelled clothing and making both allusions to systemic oppression in conversation (Including outright calling Mallory out on the crack epidemic), and having his backstory be one rooted in capitalist exploitation and systemic discrimination is the thing.

https://www.okayplayer.com/laz-alonso-explains-why-mothers-milk-wears-hip-hop-tees-in-the-boys/526833

I wouldn't put too much into the shirts. Apparently, it was very much a mix of aesthetics, actor preference, easter egg vibes. The shirts will often reference something happening in the ep.

The had him wearing black panther breakfast shirts and pictures of Obama in his apartment, it was all lib caricature of what they think a black revolutionary is. They drained that well pretty quick and didn't know what to do after. Heaven forbid they read a book.