That character is definitely just a parody of dudes like Unkle Adams whose schtick is being overly nice and rapping really badly. There isn't anything about mocking hip hop culture, just bad rappers.
I don't think Fantano has any beef with hip hop at all though. Even he reviewed some of Unkle Adam's singles positively before and helped get him a lot of exposure.
Fantano is also pretty influential as far as getting people new fans. While he isn't wholly responsible for Brockhampton's rise to fame, his incredibly positive review of the first Saturation album really drove a lot of his fans towards them. I believe some of the members of Brockhampton even address this in their interview with him. This is evident in what
@BoilerRhapsody was talking about with his Brockhampton concert experience.
The same goes for artists like Jpegmafia and other groups like Injury Reserve. A big portion of their fans come from Fantano's reviews.
He clearly has an audience, but it's just not for me.
I don't think he should have to create an emocore mixtape with his Cal Chuchesta personality to be allowed to make a mixtape parodying bad rappers.