Unless race plays a huge part, I honestly don't see the problem in racebending characters.
Characters such as Iron fist, Luke Cage, black panther etc would be completely different if their race changed.
MJ, Peter, Flash wouldn't. Hell I'd go far as to say Miles would be barely different if his race was changed.
That being said, Tony Revolori should be playing an OC. The only thing he shares with Flash is being a bully, and that doesn't include bullying methods.