The original Mobile Suit Gundam definitely wants us to think of them as Fascist, every card played to make the Galactic Empire in Star Wars "Space Nazis" is played by Gundam here and then some. The Zeon flag is clearly designed to be evocative of the Nazi Battle Flag, "Zig Zeon" is meant to echo "Hail Hitler", and Girhin Zabi is Godwined by HIS OWN FATHER and takes it as a compliment.
However I recently made a post all about how annoyed I get at superficial Nazi imagery being used to code villains as evil without any regard for actual ideology. I avoided Gundam as an example in that. The thesis of this post is that if the Zeon ideology fails to actually qualify as fascist it is a failure of the writers, as I certainly think they were trying more then George Lucas was.
I want to use the definition/characterization of Fascism provided by the Innuendo Studios YouTube video Endnote 2: White Fascism. If this definition was constructed with an ideological agenda, it was to define it in a way where it was impossible to exclude the "Alt Right". So it is certainly a definition that has wiggle room we could work with.
"Palingenetic Ultranationalism"
The "Us" in Zeon Zum Daikun's ideology is not "Racial" or "Ethnic" in any way we'd think of those terms today. They are the "Space Noids", individuals who were born in and/or live in the outer-space Colonies. But this "Us" is not actually defined exclusively, he wants more people to migrate from Earth to the Colonies, he want the "Us" to eventually include everyone. Therefor it does NOT work as the top rung of a Hierarchy. You could argue the "Newtypes" were supposed to be the upper class, but they are actually more based on the New Age Indigo children concept, something similar was also in Childhood's End if I remember right.
It's also not "Palingenetic" since "Space Noids" are a new thing, there was no past greatness, it was all about looking forward.
"Okay, you've shown Daikun's ideology wasn't Fascist, but didn't the Zabi make it Fascist?"
The distinction between the Zabi and Daikun's original vision does matter, because in-spite of how much the Zabi and Char are vilified, Daikun's ideas are implied to be correct by the overarching meta-narrative.
The Zabi did indeed do many things I'm inclined to believe Daikun wouldn't' have approved of. But the only thing that is even close to being an adjustment to the core ideology is changing the form of Zeon's Government from a Republic to a Principality.
The thing is, both Mussolini's original Fascist party and the Nazi Party were Republican parties. Mussolini was forced to compromise with the King, but Hitler never had to because Germany's Monarchs were already in exile. He was actually quite annoyed at the Kaiser's delusion that Hitler would put him back on the throne. One of the Kaiser's sons joined the Party and they used him to get votes, but it's clear the Nazi leadership never actually trusted him.
Fascism is flexible however, and in France and Britan the would be Fascist movements were much more open to Royalism. My point is, it's certainly not inherently Fascist.
I currently have no familiarity with any Gundam material that's post Char's Counterattack on the Universal Century timeline. So maybe later on there is a villain who wants to "Make Zeon Great Again". But the original Zeon Principality failed to qualify as Fascist. Not being Fascist doesn't make them good, but the difference still matters.
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