Always have to remember that when given a choice between Truss and Sunak the party membership wanted Truss. And yes his "colour" 100% came into it.
It's more complicated than that. People simply didn't quite trust Sunak because of several factors:
1. The Cameron-Modi-Infosys triangle, Sunak having prepared a VERY professional leadership video four months before there was even talk of a VONC against Boris Johnson. In addition, Sunak's resignation/VONC, came within seconds of that of Sajjid Javid who led the rebellion. Now Javid, as a Muslim, you could say, should be even more hated than the peace-loving Hindu, Sunak, but actually, Javid, as much as one might disagree vehemently with some of his views and actions, did show he had principles, whereas Sunak appears to have none. For example, when Johnson formed his cabinet after the last General Election, his chief adviser, Dominic Cummings insisted that the Chancellor of the Exchequer (then, Javid) give up their traditional separation from No. 10 by being controlled by No. 10 advisers instead (aka Dominic Cummings). As a result, Javid rightly resigned as a matter of principle. Sunak? Couldn't wait to get his feet under the table and couldn't wait to sign away his independence as Chancellor of the Exchequer.
2 Many in the Conservative Party membership perceive Sunak as having the undesirable trait of disloyalty ('He stabbed BoJo in the back!') and contempt towards British values, such as honesty. For example, failing to declare his green card and allowing his wife to avoid UK tax as a then registered 'Non-Dom', as the minister in charge of the country's finances.
3 Misunderstanding of British values. Braverman and Badenoch make the same mistake in cynically believing Brits are a bunch of horrible bigots obsessed with immigrants and work shy benefit claimants, hence they pursue bigotted policies in a belief it'll win them votes but they misunderstand the electorate badly. Sure all of the current Tories in power have contempt for the British electorate but 'Boris' was careful to hide it beneath an avuncular veneer as he bumbled his way, pretending to be a complete idiot, whilst how Brits laughed at the comedy of his lying and everybody knowing he was lying, all with a twinkle in his eye and a smile on his lips. Likewise, Theresa May knew how to put on a display, not even falsely, of having SOME principles. Ditto, Penny Mordaunt.
So Conservative Party members preferred Truss because although they knew she was a totally vacuous airhead they simply saw Sunak as a sleazy oleaginous oil slick with no principles at all, no transparency about his business interests and his ruthless trampling over the down and out, sick, injured and disabled, thinking this is what Brits want.
Whilst it was a moment of schadenfreude to see David Cameron standing nearby Suella Braverman on Remembrance Sunday and her getting the boot next day, with Cameron stealing her job, being made a peer and also given the prestigious appointment as Foreign Secretary, after James Cleverly being relegated to the traditionally worst of the four great offices of parliamentary power, the Home Office. I am certain Cleverly will be bubbling over with burning resentment towards Cameron about the fall from grace. So why is Sunak hanging on to power knowing his cabinet is rubbish (Shapps as Defence Minister? Give us a break!) and hardly anyone on the backbenches baying in his support in the Commons? IMV it can only be that he is cynically maximising his family financial investments in his many ventures. He makes Rees-Mogg and Michelle None look like small fry.
But the ordinary Conservative Party members, whilst they can tolerate idiots and buffoons, they at the same time dislike the type of ruthless ambition and open lack of British morals of fair play and decency as displayed by Sunak.
They also seem to like a good joke, hence the vote for Truss. She epitomizes British harmlessness.