I consider fairness to be a terminal value, and it's not something uncommon in primates, as shown by the studies of ultimatum games. Fairness isn't the only terminal value, and when choosing between terminal values people will weight fairness differently, but fairness is a terminal values for humans, and I suspect it to be part of our CEV as well.

Then they'd have an incentive to perpetuate a belief that their race is smarter on average.

But people tend to look negatively on open attempts to create an uneven playing field. "If this person will try to change the playing field so that they personally come out ahead at others' expense, would they do the same at my expense?" Unless you know that you and this other person mutually see each other as ingroup members, and the groups they're disadvantaging as outgroup members, you'd have reason to suspect that they'd act against your social interests.