I really don't see much in the way of issues here. Sure, the "we must preferentially buy from and then flag products from non-white-male farms" is cringy, but for the most part the idea here is good.

First, I will commend these two for putting their money where their mouths are (assuming this is actually going to be in a poorer neighborhood) - they're actually doing something with their own time and money and effort instead of just demanding other people make all the changes themselves.

Second, it is a fact that a lot of poorer neighborhoods are sorely lacking in places to buy healthy, high-qualify food, I'm generally a fan of supporting smaller, more locally owned businesses than just shoveling money to larger companies, and most people (regardless of race or financial status) do not know how to cook healthy meals these days (though, admittedly, there's better ways to do that than just saying "add an onion to your ramen").

On top of that, opening new businesses in poorer neighborhoods does give more people there jobs, and thus more income, and thus less poverty. (Though if this is a 700-square-foot store, I'm not sure how many people they will be hiring)

Of course, there is a larger problem with what they are trying to do, and that is failure to understand why poorer neighborhoods are often lacking in decent grocery stores. It is because the people are poorer, less educated (or care less) about food choices and that poorer neighborhoods also have a lot more crime. The article flat out says prices are higher than other grocery stores (at least for the meat), and someone struggling to make ends meet is not going to care if the beef they're getting is from an organic, grass-fed, free-range cow. They want cheap meat. Same goes for the type of products - while picking up and making rice and beans is cheaper and healthier, most people are probably going to go for the pasta and cookies instead I imagine. And lets hope they have lots of plywood to put up in the windows before the next BLM "rally" comes through.

I do hope they succeed, because people putting money into and setting up businesses in poorer neighborhoods is the only realistic way to improve those neighborhoods. That said, while I'd like to be wrong I really only foresee two likely outcomes given how they describe it. Outcome 1, it just goes under due to not attracting a large enough customer base to stay profitable. Outcome 2, it becomes a hipster grocery store where a bunch of (upper) middle class white people go so they can get locally sourced foods and break their arms patting themselves on the back for helping support an under-served population which never actually comes into the store.