"You can't help but feel..." is pretty much the same or worse as saying "I feel...". Just come out and say it, "I feel the Chinese are a subspecies", don't use language to deflect what you think onto others. The suggestion that it's very different and your characterization of past threads as 'full of the "he's a racist" lies' I think shows you are in denial.
As you may recall, even the "Love Music, Hate Racism" movement you referenced thought it was a racist statement and dropped their support (
link):
As for my opinion, I think it's a complex issue and is there is no simple answer. Maybe it is calculated that he makes statements he knows will be controversial so they get press and therefore more attention to what he most strongly believes in, animal rights. I don't feel it is 'libelous' by the NME, Guardian, or anyone else to call him out on the statements. At the same time, Morrissey has had friends that are of a racial minority and many of his fans are of a racial minority, not exactly traits of someone that could be characterized as 'racist'.