no it is not demeaning, 华人 is like the widest net/semantic space with regard to "chinese person" (eg anyone who has chinese heritage, encompassing of any chinese ethnicity not just han, also encompassing any nationality). it's standard/politically correct to say "海外华人" for overseas chinese
I don't speak canto but this comes close? 竹升 afaik sometimes it's used derogatorily (unsure of slur status) but i've also heard there's some like reclamation of it idk (also I see that wikipedia thinks that "banana" is a Thing but I've literally never seen anyone call a bobalib "香蕉人" irl)
ah, so the mascot wars have borne fruit (context)
sample image: