I haven't seen it in a while, but here's my memory.

First, let's look at the fundamental premise. You have a guy who is inferior to the blacks around him in almost every single way. He's a reject, he loses fights, he got cucked by one of them and stayed with the girl afterwards, he gets stage fright, he lives with his mom in a trailer, his friends are losers, etc. The man's one saving grace is that unknown to the characters in the film, he is Eminem. The film's premise is that any ordinary or even less-than-eminem-but-still-extraordinary white would have been an absolute loser and the audience picks up on that message. It creates dread in a white audience.

Second, let's look at the fundamental message. The fundamental message of the film is that whites do not face anti-white sentiment, but rich people face anti-rich sentiment and whites are privileged enough to frequently see that, and that if white people give up their privilege then they can bond with blacks. This is demonstrated in Eminem's final "victory", where he defeats a black rapper by asserting that he is just as poor and deadbeaten as them. The message to the audience is that whites can be accepted only after giving up all signs of success and that blacks never held anti-white sentiment to begin with.

Third, let's look at the quick subversive things that were thrown in without any real follow-through. The film shows Eminem impressing a girl by defending a homosexual. The film shames a strong man by suggesting that he's on steroids. The praise for weakness is a psyop that's not talked about often. Third Eminem literally walks in on his girlfriend interracially cucking him and stays with her. Considering Eminem's role-model or idol-tier status, this is a normative statement of what boys should do and be okay with.

Fourth, let's look at shit just thrown randomly in there. Cheddar is a white person with absolutely no redeeming qualities. He serves no purpose in the plot. He only exists to get rejected by black girls, say stupid shit for no reason, and accidentally shoot himself. He only exists as a "white man dumb" statement and nothing else. Contrarily, they present some black-panther tier guy as the peak of black intellectualism.

This is all just from memory. I'm sure dozens more things would pop out at me if I rewatched it. That's what I remember from when I watched it years ago.