I'm not bothered by it, but it is tacky.
When I was growing up, the term wasn't necessarily directed specifically towards Asian people, but Asian manufactured cars themselves. IE a Honda with a body kit and a loud muffler would be referred to as a "Rice Grinder" by some. It doesn't register in this context to me as racist, but definitely culturally insensitive and stupid.
I'm okay with the move to not use it.