Obviously the word has discussion around its definition but it seems that the corporatist part is deemphasized, and there is a new focus on race and nationalism.
Old Definition "A political system headed by a dictator in which the government controls business and labor and opposition is not permitted"
New Definition "a political philosophy, movement, or regime (such as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition"
The Fascist definition is one who follows the philosophy represented by and of the Fasces. Same as literally any -ist. Islam-ist. Sex-ist. Darwin-ist.
The Fasces is the concept that twigs apart are weak and easily broken, but though they are all individually the same, together, they are strong. It is very much a communist iconography.
Commune-ist.
Your "old definition" is already a definition redefined 4 or 5 times for political gains.
Hence why calling them faggots is ironically accurate.