There are many masonic lodges - it's not homogenous. The history of masonry comes out of an enlightenment tradition so isn't necessarily inherently racist (people of different races and religions aren't specifically excluded) - the elite groups at the top of masonry are just as likely to hang out with very rich black/muslim/asian people than lower order white people. The elite of all countries have much more in common with each other than they do with us (and vice versa).
Most lodges are little bottom feeders more interested in local corruption (sorry 'networking') and the lodges probably reflect their racism.
Freemasonry definitely isn't racist (in theory, at least, and often in practice). Hell, how would those pesky Jews be able to control it otherwise?
Ahem. Sorry, just had to get there before some antisemitic nut brings it up.
As for the handshake, it's definitely reminiscent of a craft mason's handshake of whatever degree, but as you say, craft masonry is the home of 'bottom feeders' in the masonic hierarchy, and about as mystical as a repeat episode of
Friends, save for the symbolism of the rituals etc., which is most definitely occult in nature, much to the ignorance of entire lodges. Whereas the 'higher degrees' (whether irregular or otherwise) all involve a certain amount of overt mysticism and the accompanying intrigue. Why would they greet each other with a lowly craft mason's grip if they were part of some secret elite?
Aleister Crowley, for all his masonic posturing and the modelling of the OTO on freemasonry, tended to mock even the higher degrees as being harmless parlour games for people with too much leisure time. I tend to believe he was speaking the truth, although that's never guaranteed with Uncle Al.