Is "Whites" pejorative? Is "Latinos" pejorative? Why is "<noun>" more pejorative than "<adjective> + people" ?

Because we're in that cycle of history now.

It's more pejorative for the same reason that "White Pride" has negative connotations in today's society while "Black Pride", "Asian Pride", "Gay Pride" have positive.

Hate it or love it, it is what it is.

I'm sorry, but only someone with absolutely no appreciation of historical context would ask such a silly question.

Can you elaborate?