Oh it goes far beyond that. A true deep dive into fascism and mussolini's origins will show that fascism is syncretism between reaction and revolutionary socialism. It's not a rebirth of monarchism so much as it is a reimagining of socialism. Marxist, reactionary, ancient Greek, enlightenment era, and even anarchist theory is all put into the pot of fascism to create something that is quite set apart from any of its ingredients.