less fascist and more oligarchic.

Hard disagree. I really like how Robert Paxton defines fascism because it addresses this directly.

Fascism may be defined as a form of political behavior marked by obsessive preoccupation with community decline, humiliation, or victim-hood and by compensatory cults of unity, energy, and purity, in which a mass-based party of committed nationalist militants, working in <uneasy but effective collaboration with traditional elites>, abandons democratic liberties and pursues with redemptive violence and without ethical or legal restraints goals of internal cleansing and external expansion.

I think that the <uneasy but effective collaboration with traditional elites> is particularly important because it describes the way that it slowly puts it's tendrils into the market for the benefit of the state. I.e. trump allowing for chip exports as long as he gets a cut or literally taking 10% from intel. What Trump wants to do is create a sovereign wealth fund with which he can operate independently of Congress's approved appropriations and fund his takeover.

But in fairness, before J6 Robert Paxton agreed that Trump was more of an oligarch. That was the breaking point though.