Any word only has derogatory meaning, or not, when used in context.
Black is not inherently offensive, multi-coloured is not inherently offensive.
While we're on the subject, and referring back to a discussion t'other day, concerning my use of the term non-BAME.
At one time there was 'white' and 'non-white' and no-one batted an eyelid, nor asked what was meant by non-white.
White was the dominant culture, the dominant force in politics etc.
Now if I use a term like non-BAME, I am questioned as to what do I mean by non-BAME, and asked to be specific. Well, it's just a reversal of a previous dominant categorisation of non-white.
The use of the term non-white implied a purity of whiteness, and anything other was considered less.
Of course we now know that white is not such a simplistic description, and there are numerous shades and tones of whiteness, and anything other is in no way any the less because of the colour.