I mean, even if it did originally, I doubt anyone that has worked with git in the past decade thought of a master/slave connection; it just doesn't make sense.
I talked about this today with a black coworker (obviously doesn't represent the feelings of all black people etc), and he actually got quite angry about it - but he was angry at the idea of changing master to main, not the idea of keeping it! From his perspective, it's nothing more than virue signalling, a distraction from real issues. He also thought it risked ridicule, and that things like this risk turning people against real change. He did kind of see the point about the separate blacklist/whitelist debate though.
Personally, instead of "master" I like the word "trunk", as I think it goes well with the branching concept.