Street Fight is a brilliant piece of brutal satire. This is not a movie you just watch for fun. It is not a comfortable experience, although it does have some laugh-out-loud moments. This is a movie you watch when you need food for thought.
To dismiss this film as simply racist is to miss the point entirely. This is not only a satire of Song of the South, it's also a biting commentary on the prejudices that Americans still have as a society. Every ethnic group portrayed in the movie gets shown as grotesque caricatures of their stereotypes, which in turn are grotesque caricatures of real people. Through this wild exaggeration, the filmmaker shows just how absurd these tightly-held beliefs really are.
If you're the sort of person who's willing to acknowledge the ugliness of the prevalent prejudices American culture still holds, and if you're not afraid to look your own prejudices in the eye, this movie may be for you.