Just another person/group trying to make a statement. I liken this to things like "Affirmative Action Bake Sales" that some collegiate political groups do to make a statement.
But, when you (observe and) ignore these people/groups, their statements are less powerful and tend to go away with ease. Their white-only scholarship may or may not receive a shit load of applicants. Yay, either way.
There have been centuries of white-only scholarships that were called something other than "white-only." Some people criticized those scholarships but the structural dynamics that permitted those scholarships persisted. And those scholarships didn't go away...nor should they...but those who really were and are looking for white-only scholarships have a list to choose from and should know how to find them by now.
Just don't use "white-only" as a keyword.
I must note that some private and public institutions did away with their minority-based scholarships. Even with those scholarships, it is still the case that most college students are on student loans rather than scholarships and grants; and that disproportionately impacts racial and ethnic minority students.