Fair enough, except that when someone does get it, it’s really great. If you were Drop—the Obvious Guy, you’d get old really quickly. Better to be Dr. Strangelove than Austin Powers, IMO.
Aw, shucks! Ya got me blushin’. 
I’m thinking that “insulting like a white guy” basically means laying down the insults that only someone born into the relative wealth and affluence of upper-middle class/wealthy white culture can lay down.
It’s like the old racial joke: “What do you call a black man with a Phd/MD/JD, etc - N****”
It’s an attitude of like “no matter how much you achieve, you will never earn my respect and I will never even care about earning yours.”
It’s why being called “fag” or “pussy” by the football team is so powerful and the same insult from the chess team isn’t. The footbal guys are usually popular. They are the standard by which other kids in the school are judged and they know it. It’s like “we know you hate us, but you also want to be us”.
At least that’s my theory.
Those guys are on a whole other level of profanity.
Best. Comeback. EVAR.