Yes, White Lives Matter is a hate group, just like Black Lives Matter is. Both have clear racial overtones ascribing certain qualities and negative stereotypes to the other side, and their members range from regular people simply fed up to flaming bigots who wishes violence against the others. Interestingly, it shows a great deal of prejudice on the part of the media that many of the journalists refuse to acknowledge the racist nature of BLM but not WLM. If the predominantly white journalists were truly unbiased, they would not feel the need to "protect" the black community.
White Lives Matter operates much like the IRA's Sinn Fein in that the group tries to use more publicly acceptable rhetoric to promote its racist agenda. No reasonable person will argue that much economic and social oppression in the US is not due to the deliberate racist machinations of shadow organizations that can work through political action groups like White Lives Matter.
No, I feel that it is unfair to say that this group is a white supremacy group without any situational context. The aforementioned group could be a support group, or one that focuses on equality. To attribute racism to the "White Lives Matter" group would be an assumption, further contributing to the division of this country. The people of this nation have a First Amendment right to freedom of assembly. If this group is outlawed, then it is discernible that their First Amendment right had been violated.
I see no difference at all between Black Lives Matter and White Lives Matter. All lives matter. If African Americans want to separate themselves with an organization, then why is that different than white people separating themselves in the same way? If neither is stating that their race is superior over another, then they are not hate groups. Black Lives Matter does not state that their race is supreme, so if White Lives Matter is a similar organization, then they are also not stating their their race is supreme. I, personally, don't like either of them. As I said, all lives matter.