From the bowl's own website:
It's just called Celebration Bowl. The bowl is not celebrating race, per se. It is simply orientated around historically black colleges and culture.The Air Force Reserve Celebration Bowl is a postseason college football game featuring the conference champions from the Mid-Eastern Athletic Conference (MEAC) and the Southwestern Athletic Conference (SWAC). The event’s mission is to provide the schools, alumni, fans, and sponsors with a first-class bowl experience while continuing to celebrate the heritage, legacy, pageantry and tradition of Historically Black Colleges and Universities.
...Of historically black colleges.
https://en.wikipedia.org/wiki/Histor...d_universities