Get Out (2017)'s Grand Conspiracy

In Jordan Peele's psychological thriller, wealthy, homogenous individuals congregate to buy and possess other humans. Motives vary, between desire to live past one's own 'natural' lifespan, to replacing physical function that one has lost. The hosts relinquish control of their body, retaining limited consciousness as they become slaves to whoever won the bid.
This concept feels far-fetched, but is it plausible? The movie presents this 'new' form of slavery directly, as all hosts shown in the movie are Black, whereas all known possessors are White. The master-slave duality is certainly present, with White characters navigating delicately (and awkwardly) around unpossessed Black characters; however, what current systems are in place to enable this conspiracy?
Does this movie accurately display the race relations in America by enabling this new-age slavery to exist? How does it comment on current forms of slavery in America, such as the prison-industrial complex? I'd argue that this movie could easily take place in other countries, such as Canada, by substituting Black characters with First Nations–Canada's got a brutal current and historical reputation with the treatment of First Nations.
Nonetheless, is it plausible for groups of elite, wealthy, aging individuals to meet at an undisclosed location to auction a living body to possess? Disregarding the scientific plausibility, what might compel such a conspiracy to form and crystalize? Could this film be metaphorically commenting on the appropriation of Black culture and art by White-owned corporations? How so? Is this conspiracy already in motion, present in a form that treats culture as hosts, and elites as slaveowners?