Making a joke “about” racism is NOT racism. Sure, there are racial and bigoted elements in the story, but the Punch Line is spoken by the Black Guy. HE is the hero of the piece, not only killing the alligator, but surviving. It’s damn funny. You could change the joke around to have a Democrat, Republican, Gay, Transvestite or even a CSM as the “victim,” but the victim is, obviously, the smarter, stronger guy, and he gets the “reward;” to speak the Ironical Punch Line.
Not to beat a dead horse, but I don’t think it works with anyone as a victim. I think the joke works because you are only really given the info that he is the only aborigine there. You assume he jumps into take on the croc based off of this. It is in part because of this wrong assumption the joke is funny.
I’d like to tell the joke with Steve Irwin as the pushee.