I would say that being anti-racist does not describe America after the abolition of slavery. For decades, up until maybe the 60's African American's were mistreated with things like Jim Crow Laws, that were stopped some time in 1964. While this had ended segregation it most definitely did not end racism. Even now hate groups, like the KKK, are very prominent in America, with over 1,000 recorded in 2018.
It's very cheap is a sentence. If only the courage to fail is underlined, however, then it is a noun phrase, and functions as the subject of this sentence.
