It is code for granting fringe right-wing thought more credence in communities that typically reject it, and nothing more.
No, it’s code for ‘having people of different genders and races with similar/identical political beliefs and backgrounds is not diversity’.
If your group is all from the same type of university, believes the same things and is culturally similar, it doesn’t really matter how ‘diverse’ they might look. They’re still less diverse than a group with actual differences in beliefs and ways of seeing the world.
And that’s exactly the case for university lecturers (most of whom are more left wing than the population as a whole), journalists (many of whom are both more left wing and from richer backgrounds than the population as a whole) and Silicon Valley startup founders/employees.