I thought that as well but it could just as easily be interpreted as the just freed slave kneeling before his white savior. It's one of those things that can be simultaneously seen both ways.
I agree, just looking at a pic it could be. That's why context is so important.
I would hope that the context provided by Pb is on a plaque somewhere near the statute so if anyone is confused as to it's intent it can be clarified.
Given that the historical context of that statue is both easy to find, reliably from primary sources, and not the least bit about subjugating the kneeling man, folks wanting to remove it are proving themselves ignorant and churlish.