I would not consider it as tantamount to racial or sexual slurs, given that is principally applied to individuals who behave in a certain manner and not to an immutable trait. He is correct in his contention that there is a self-fulfilling prophecy that is induced when people consider wearers of certain clothing types, residential statuses, socioeconomic classes, etc. as 'chavs'. Without the antisocial behaviour element, there is no need to denigrate people who are in particular circumstances or choose to wear certain types of clothing. Lazily grouping them with people who are antisocial (the term 'chav' has inextricable connotations of antisocialism) aggrandises collectivism and an us vs. them mentality, which he addressed in his song and video about the topic.