She definitely looks down on nonelves for not being elves...
...Clearly some people can't tell the difference between simple arrogance and actual racism.
Also, when one race has magic and the others don't... that is a factual, measurable difference that makes a race "better".
Same reason we're "better" than most animals - we have something they don't, sentience. It's plain facts. Now when there's no actuall appreciable difference... then it's racism rather than a genuine measurement.
We humans "look down" on other "races" here on earth. It's why we think of them as "pets" or "pests" or other such things. We just also stupidly claim to have different "races" of humans, when we're so close as to be barely different breeds, and often not different enough for that even... it's pathetic.
As a person who actually has experienced real racism? She's nowhere near racist. Racists don't feel indebted to those they hate when they are saved by them. They are pissed at their world-view being shit on, and take out that anger on their saviour regardless of the debt.