It IS called punching up. Punching down is when you sit on the top of a social hierarchy and then PUNCH DOWN to those less priveleged than you.
Again: regardless of the definitions, to me it is ALL "punching down"
.....as I don't believe (in games, other media, etc) most groups of people(again barring perhaps criminals, etc) should be given a negative blanket treatment in such a way.
(For one thing, it is stereotyping and can be emotionally hurtful to those in said group)
Btw I don't mind such framing being used for a small section of enemies in a game, or film, or similar....it's when a piece of media paints(accidentally or on puspose) one group as all/mostly bad like that that it becomes objectionable to me.
I watched some tv shows for a bit(mostly old nick shows, but also a few from other channels).....remembering my youth via nostalgia for a bit....twas fun. Might play some games later on to rekindle that nostalgic feeling a but more as well.