One small point: Fascism is not Nazism. Fascism is nation based, Nazism is race based. Fascism was the creation of Mussolini, who dreamed of restoring Italy to the glory days of Rome. Hitler sought racial purity, based on evolutionary theory. This gave rise to the idea of the Aryan "master race".
It may escape some people, but Nazi Germany was socialist. The point that the video makes about modern socialism in the West is well made.
Those are important distinctions to make.
Socialism (many kinds) are characterized by collectivist systems.
Fascism is more of a big centralized government with a dictator.
The two in practice did overlap in that one point it seems. But then there are few true socialist systems in practice except for the small ones like Pennsylvania Dutch Mennonite communities and Bruderhoffs. Israel had their own communal system for a few decades too.
I think the governmental socialists are really oligarchies controlled by wealthy families who keep the peasants poor. The exception might be Russia at this time. I heard that they have a large middle class now.
The way any of these terms are used today is more like an overused cuss word by the libs.