Created by Gilbert Baker in 1978, the pride flag has NOTHING to do with race. It was a flag for all gay people - which at that time meant all LGBTT or GLBTT or what ever combination of letters you wish to use.
The original colors he chose were:
pink - sexuality
red - life
orange - healing
yellow - sun
green - nature
blue - art
indigo - harmony
violet - spirit
Pink was dropped because it was not a readily available flag material at the time.
Indigo was also dropped so there would be six stripes.
The six-color flag has become more or less an international standard. It stands for all of us, and there is no need for micro-symbolism. No purpose is served by twiddling with the colors.
The original flag had more than 6 colors.