The Left has been using this definition for many decades. For them, the term has no other meaning.
Knowledgeable people, on the other hand, understand that fascism is a form of socialism -- it is a brand of leftwing politics -- and it involves the ending of independent private property. Property may be owned by individuals and businesses, but may only be used within parameters established by the state.
"All within the state, nothing outside the state, nothing against the state." -- Benito Mussolini
“All within the state, nothing outside the state, nothing against the state.” — Benito Mussolini
Che Guevara said something very similar, IIRC, “Within the Revolution, everything. Outside the Revolution, nothing.”
“Property may be owned by individuals and businesses, but may only be used within parameters established by the state.”
IOW, the current US of A.