There is nothing racist or political in a decision that is long overdue. Facebook is merely enforcing it's own terms of service, freely avaliable in its webpage. Please read point 3.7: "You will not post content that: is hateful, threatening, or pornographic; incites violence; or contains nudity or graphic or gratuitous violence." Wether you agree with their cause or not, the page in question surely incites violence (as you can see by the translations in this page) and a case can be made for it being hateful, thus the removal is correct. And yes, there's a new one already (as this news piece mentions) but the "likes" count is reseted and it'll probably be removed as well, sonner or later (if the wording remains the same)
U.S. defense chief tells Congress: Military options remain against Iran (DPA)
from the article: Facebook removes page calling for a 'Third Palestinian Intifada'