On Don Brash's advice I had a look at his Hobson's pledge website, actually www.hobsonpledge.nz- with an 's' - and yes it's racist all right.
It promulgates the continuation of the institutional racism upon which colonisation is founded, and promotes legitimacy for race-based, prejudicial, separatist- by majority rule Maori extinction and/or assimilation policies established after 1840 by Pakeha repeatedly dishonouring Te Tiriti O Waitangi.
That's when it isn't spreading contemporary misinformation and fostering unnecessary, politically-motivated racial discord and unjustified fear panic.
Brash's assertion that "New Zealand does not belong to one race. It belongs to all of us", is incompatible with his websites assertion Te Tiriti "established some important points", vis "the crown would protect the property rights of all New Zealanders", because he's referring to Pakeha private property rights, and the Crown clearly didn't protect Maori communal property rights.
Don Brash and his cronies might acquaint themselves with modern scholarship and jurisprudence and the subject of Te Tiriti, rather than re-writing history in their own privileged pakeha image. For instance, Ngapuhi scholar Manuka Henare's 2010 testimony before the Waitangi Tribunal, "that Maori who signed the treaty expected the British to help them build a state, rather than seize power".