it feels really hard for me to make any super hard criticisms about that ideology as a means of getting over 400 years of oppression,

Black capitalism might be doing great for Mike here, but it's not doing shit for the people living in his properties and paying him rent. It might work great for the black bankers he bankrolls, but it won't work nearly so well for the people with mortgages who will get fucked by the next housing crisis. What's more, the first group is much smaller than the second. Even if black capitalism applies itself perfectly and annihilates income disparities between races (this is an absurd fantasy) it will still fail to free most black people because most of them will still need to be poor because most people need to be poor under capitalism! We can't all be capitalists! In fact, the vast majority of us must be workers! What do you propose, that everyone be a petite-bourgeois asshole with his own corner store? Who would be shopping at these stores, the other petite bourgeois assholes who are busy with their own stores? Who supplied the goods? Who shipped them? None of it makes sense as a model to combat oppression except to make it a more racially indiscriminate oppression that has merely redistributed a portion of its brutality to other groups. The prison population won't shrink thanks to black capitalism (even in this fantasy!), it will just become more racially proportional.

But again, it's a fantasy, because racism as we know it wasn't just born from the hearts of morally impure white men spontaneously, nor did it grow from the ground. It was created as a tool in service to an institution, and that institution was capitalism. It serves a purpose under capitalism and helps to maintain it. By refusing to address these issues and pretending to be a liberator for only your own sake, Mike has made himself someone who is not even worth being spat on.

The "blacks are homophobic" thing is so moronic it doesn't merit a response.