I wouldn't know. I haven't had the opportunity to see it. From what I've heard, it's not.
(From what I hear) There are stereotypes, but those are just as present in modern movies (also it is important to remember that if there weren't a fair amount of people who fit a given stereotype, they wouldn't exist. So a stereotypical character can still be a portrayal of a real/believable person. No character is going to represent all characters of a given race).
-(from what I've heard) there is apparently a story about a "tar-baby". Taken out of context, this is a racial slur, but in the story, it is apparently about a character who is tricked by a fake baby, made out of tar.