If you strip out that axis and then look at their other platforms, they love socialism, they want subsidies, they don't want inequality, they want fairness, but they want all that only for people within their group.
Present-day conservatives are far more sensitive to in-group loyalty than present-day liberals - no question here. That however doesn't mean that the conservatives of today are inheritors of all that the Southern Democrats, the KKK and the neonazis believed in. These guys were, after all, Democrats - they loved all that socialism jazz. This also means that liberals of today can't disown their forefathers, even the racist ones, just because those party forefathers believed that socialism was meant to operate only for the benefit of white people.
"What difference" "does it make?"