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Like Private Eye, demolishing racialist (9)

Ross

I believe the answer is:

satirical

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'like private' is the definition.
Both the definition and answer are adjectives. Perhaps there's a link between them I don't understand?

'eye demolishing racialist' is the wordplay.
'racialist' can be anagrammed to 'SATIRICAL'.
But, I am not clear how this is indicated.

Can you help me to learn more?

(Other definitions for satirical that I've seen before include "Ironic - sarcastic" , "Humorously critical" , "Exposing human folly to ridicule" , "Poking fun at" , "scornful" .)

I've seen this clue in The Telegraph.
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