Well, the way I see it: "blacklist" has a negative connotation. It's exclusionary. "Whitelist" means accepted. So, one can subconsciously ascribe it to the general racist mindset, ie: black is "negative," white is "positive." Masterlist--master. It has connotations related to slavery.
In this single context, it's a good change and not too awkward to adopt. But like with anything, you can get silly and phony and overdo things for the sake of correctness. It's a volatile time alright.... but the murals of George Floyd can touch your heart. Have the ones in charge learned anything yet?