Yes, that is correct, but then boneheads aren't much interested in what is correct. The term "bum of the month" was racist in nature because it was only used to designate white fighters. In those days it was commonly believed that blacks were naturally inferior, so the logic would dictate that any white losing to a black must be a "bum." Anybody who would suggest that Louis's record was padded obviously has no idea what he is talking about.
Wlad needs to defend the title 7 times a year to relly chase after that record. People seem to forget that Larry Holmes was 5 defenses short of tieing Louis's record.