H.P Lovecraft was a timid recluse that was racist because he was afraid of what he didn't know, and actually became less racist as he got older.

Like the person beneath me said, Beholders are raging narcissists who have a violent hatred for everything that doesn't look like them because they believe that they are a perfect reflection of the "great mother" who is the god and creator of the Beholders.

They might be similar in terms of being racist, but that where the similarities end.

It's more narcissistic rather than racist.