And it says, basically -- and this isn't hard to figure out -- "Death to stereotypes. We are not Sambo anymore. We are not black bastards. We're killing this ethos".

from Outside the Lines With Rap Genius (Ft. Dante Ross) – Dante Ross Excerpt #5: Black Bastards Lyrics on Rap Genius

Meaning

Wire magazine put it this way:

The Dumiles [KMD’s Zev Love X and Subroc, who were brothers] had been raised as part of the Five Percent Nation, an offshoot of the black Muslim faith that also counted Wu-Tang Clan, Brand Nubian and Rakim as adherents. They sought to reconstruct the “deaf, dumb and blind” heathen, but they wanted to do it in a sympathetic, playful way, as boys but not babies. At times, the album seems to laugh to keep from crying. The cover of Black Bastards featured a crude drawing of the half-grinning, half-exasperated Sambo being hung. Lynching the logo was meant to suggest the death of a stereotype

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