The most common example I’ve seen to have the word used is for comic book live action adaptations or remakes in which a red-haired character otherwise known as a ginger is replaced by a black actor. The ‘woke’ meaning here is companies being intentionally racist in their malicious compliance to add minorities as a quota with the unsaid, yet implied wordplay.
So your conclusion is that its racist to replace a historically red-haired (white person I assume?) character in a fictional story with a black actor? Do I have that right?