It is racist from certain aspects. Islam began as an Arab religion, and although that can't be said of it anymore, its adherents are still overwhelmingly Asian (Arabs, Indo-Paks, South-East Asians, Malays, etc.).
Criticism of Islam largely stems from ignorance of the religion and its tenets (a lot of what people bring up as examples of Islam's problems are actually cultural problems, not problems that originate from the religion itself), which itself stems from Orientalism. Edward Said's books on the topic argue that Orientalism is rooted in racism. And we can see some of what he tried to show in his books demonstrated by some of the horrible and extremely ignorant comments made in this thread.
No, criticism of Islam comes from the inescapable conclusion that most of what we call terrorism in this world is done in the name of Islam. You cannot separate religion from culture. One religion may look different across different cultures, but if the religion is dominant in a culture then aspects of that religion will play a key role in shaping that culture and vice versa. The tenets of Islam (and most religions) are open to interpretation, and if I am interpreting them out of ignorance maybe you can enlighten me as to the peaceful teachings of Islam towards unbelievers?
I will cast terror into the hearts of those who disbelieve. Therefore strike off their heads and strike off every fingertip of them.
In a culture where violence is already prevalent (usually impoverished and under a totalitarian rule with lots of young, pissed off men), the religion can be easily manipulated to escalate the violence, especially if their texts promote it in some way as the Koran clearly does.
Until the moderates redact the Koran of all the calls to violence I will continue to criticize the religion and I don't believe it has anything to do with ignorance of the tenets.