Never listen to their words, only pay attention to their actions.
You hit it dead-on that a lot of these DEI initiatives were performance theater to appease some external force (as is most of business, when you really think about it). The existing leadership had zero intent to actually allow under-represented minorities into their ranks other than as a token or trophy figure who would kiss the ring and not rock the boat.
The real success (or failure) of DEI will be the next crop of leaders, not the current ones. The managers and leaders of tomorrow (who are the ICs and team leads of today) are acutely aware of how much of a Straight White Boy’s Club these leadership ranks are, and the vibe I get is increasing disgust at the proclamation of “merit” as justification for their tenure while (often minority) high performers are routinely exited out in favor of yet another H1B overseas.
I’m hoping this is just the last gasps of relevance from the status quo in the face of generational upheaval. Guess we’ll all find out together.