I'm new to the thread (and MN) hope it's not had form (or something?) to join in so late to the thread. I'm secular Jewish, DP is Israeli and Jewish, we live in the UK.
Firstly, I'd say the right of the return isn't racist. I think it's incredibly important. Basically every single country a significant Jewish population has lived in ever, they have been persecuted or oppressed or discriminated against or simply forced to leave. It has played over and over again for hundreds of years, more than two thousand years of misery and pain and death, for being Jewish. Whether you were a Ashkenazi or Sephardi, whether you were Yemeni, Ethiopian, Polish, American, Australian, Indian, Chinese- every single Jewish person who comes from a Jewish family will have had someone killed or persecuted or subjected to anti semitism for their beliefs within the last two hundred years, most of them in far, far less than that.
So I can completely understand why there is a 'right to return' for any Jew, because the need for a homeland is so very important. Jews were turned away from democratic countries who were allies and fighting against their oppressors not that long ago, I can completely get and am very grateful for the right to return. There seems to be no stopping anti semitism, it is a cycle which repeats over and over and over. It is a weird feeling but every Jew I know, everyone who's from a Jewish family, they all, including me, accept that, within a century probably, there will be another mass exodus, another holocaust (even if on a smaller scale), another kicking out, ghettos, systematic discrimination, because even after periods of peace, complete integration and acceptance, it rears it's ugly head, and at least now we will have, or they will have, a place to run to.
Apart from that, we of course disagree with Israeli policies. DP's aunt was assaulted for protesting.