On the other hand, Luke Cage recently proved that embracing the campy stereotypes of the source material can be an incredibly powerful creative step.
On one hand, Iron Fist is most certainly a character built upon Asian racial stereotypes, which means that casting an Asian actor doesn’t inherently fix the problem.
In the end, it really comes down to how the team behind the show handles the material.
Danny Rand is already a white character in the pages of Marvel comics, and bringing in an Asian actor to portray these stereotypes might not go over well with fans.