Belief in dog-whistles is an easy habit to fall into, and I’m sure they’ll eat you last, but perhaps real understanding should be sought when you find yourself jumping to the politically-correct conclusion. In this case, consider William S. Lind’s genealogy of CRT from the Frankfurt School:

I must note that the Left has taken to labelling my work on the Frankfurt School and cultural Marxism an “anti-Semitic conspiracy theory”. They have called it that in a number of places, including in my biography on Wikipedia. This is a lie. First of all, it is not a theory, it is history, the history of the Frankfurt School, which is well-documented in an extensive academic literature. Second, they call it “anti-Semitic” because I point out that the reason the Frankfurt School left Germany in 1933 and moved to New York was that all its members during its German phase were Jews, as Wiggershaus states. Do you think Hitler’s coming to power in 1933 might have led Jews to leave Germany? The move was of great significance for this country because had the Institute not moved to the U.S., its influence here today would probably be much smaller. Third, the Frankfurt School had aspects of a conspiracy from the outset, often concealing its real objective and its Marxism; this was especially true during its New York phase. Indeed, the Institution was originally to be named the Institution for Marxism, but instead chose the neutral-sounding name Institution for Social Research, again with the purpose of concealing its real nature. If there is conspiracy here, it is theirs, not mine. My pointing out that the Left is telling a lie about my work will not stop them, since everything they say is a lie, but it at least corrects the record (and might shame Wikipedia into not publishing the lie?).

https://www.traditionalright.com/critical-race-theory-2/

Now some say that the Frankfurt School is apostate from Marxism, but when you consider that BLM and other CRT outfits like to chant “we have nothing to lose but our chains” there is at least a little cross-pollination of ideas. Also, it’s not difficult to consider ‘class’ to serve as a variable which has been substituted for ‘race’, so instead of the formulation “workers of the world unite!” we now have “People of Color unite!”

But I can see how many people would think it’s merely an anti-Semitic dog whistle. Jews always like to frame criticism of particular anti-social actions of particular Jews as unfounded racism against Jews as a whole. Trouble with that is eventually the Goyim [cattle] start to agree that “by their fruits you shall know them,” and want to take a hatchet to the whole tree when earlier they would have been satisfied with tossing out a few bad apples.