People and their motivations are generally more complex than that. Some, perhaps most, Trump supporters are racist or, at the very least, harbor racial prejudice.
At the same time, they can also have anxiety about the economy. For many of them, they either didn't have the resources or necessary qualities or desire to attend college or university, and now they're being left behind in an increasingly service-driven economy. They may end up having the last laugh as AI more fully integrates itself into the economy. Like an open casket funeral, remains to be seen.
At the end of the day, the takeaway for the Democratic Party should be that even if we address the economic anxiety, it won't matter much. We might pull some of Trump's voters from the GOP, but we won't get enough to matter. We'd have to compromise on values that are integral to who we are.
It just isn't worth it. There's zero sense in giving up who we are and what we value for that kind of measly gain. You don't sell your soul for a bag of Doritos.