Too simplistic lol. Its funny that the counterargument is nested in your original position. Is it what you’ve said it is? Yes. Is it also many more things than that? Yes. Very few things are actually that simple. The reality is that BLM is exactly what they say they are AND ALSO many other things, some of which are gross. Which percentage each aspect is of the whole is up for debate though.
Whats interesting to me is the way that because BLM has no actual structure, many other interests have co-opted the movement to sell things including political candidates, narratives, etc.