I thought it was because “Asians” didn’t like being lumped together because so many nations have generational conflicts with other Asian nationalities.
That could be a factor as well I suppose.
All asians I have known or been exposed to were successful and hard working.
When a wave of Vietnamese came over in the 1970s they quickly started running businesses. Asian professionals I have worked with were brilliant and didn’t have much use for lazy people trying to game the system.