I think the story is actually a lot more fascist if you think of it as "the eldians (race of the protags) is what fascists see themselves as", because
Eldians are natural ubermensch with divine biological powers and are connected to each other across time and space by blood
Eldians are the underdogs in the story fighting against a world where literally every country hates them to an unreasonable degree
Eldians are forced to live in stagnation and humility (versailles treaty) because they lost a war when their king betrayed them (back stab myth)
The eldians used to rule large parts of the world for thousands of years (return to past greatness)
Also the protagonist is a war veteran who gains mass popularity and takes over the government, the government which had previously overthrown the monarchy. It is actually amazing how much the story parallels nazi/italian fascist mythology.
Eldians are forced to live in stagnation and humility (versailles treaty) because they lost a war when their king betrayed them (back stab myth)
The eldians used to rule large parts of the world for thousands of years (return to past greatness)
These two parts also apply directly to Japan. The Japanese Empire, its fall from grace, and being trapped on a small island. You can read the story as a story about how the Japanese should forge out of their island and re-stake their rightful claim to the world, which is entirely against them and keeping them trapped there.
Also "what if Jews were actually legitimately a threat to humanity and could turn into monsters". Just gross barely concealed fascism
I think the story is actually a lot more fascist if you think of it as "the eldians (race of the protags) is what fascists see themselves as", because
Also the protagonist is a war veteran who gains mass popularity and takes over the government, the government which had previously overthrown the monarchy. It is actually amazing how much the story parallels nazi/italian fascist mythology.
These two parts also apply directly to Japan. The Japanese Empire, its fall from grace, and being trapped on a small island. You can read the story as a story about how the Japanese should forge out of their island and re-stake their rightful claim to the world, which is entirely against them and keeping them trapped there.