I'll quibble with two things:

Where you blame extremism, I blame authoritarianism or, to use Orwell's term, totalitarianism. I make the quibble because I think it is possible to have an extreme form of socialism, but only if it's democratic so you know the people fully support it.

As to whether Malcolm X was wrong, we can't know yet. If capitalism manages to become racially proportionate from top to bottom, I'll happily say I was wrong about that. But so far as I can tell, a capitalism in which the rich look like the rest of us remains a spherical cow.