Neoracism. We need a word that captures the essence of such thinking and "neoracism" is a good candidate.
I think the focus is on structural racism now because the more blatant forms are drastically less common than they used to be.
Racism: Believing that some ethic groups and/or their components are either better or worse as a conseguence of their ethinity.
Neoracism: Believing that a reasonable solution to racism involves the application of different focused racism.
I'm not sure where you got that idea, but structural racism doesn't actually require prejudice at all (it often involves it's, but includes institutional features which preserve disadvantage through neglect as well as active discrimination.)
> It was never intended to replace the common definition of racism
Yes, “power + prejudice” was, when coined in 1970, specifically designed to replace the common understanding of “racism” and explain why relatively disadvantaged groups (who those endorsing the definition tend to describe actually powerless rather than merely relatively disadvantaged) cannot be racists in the context of the society in which they are disadvantaged, no matter how prejudiced they were.