No, the word has not lost its meaning, but it has become less niche: some of them are better at hiding it and waiting for the right time, some of them want to make people forget what it represents and a lot of people are too lazy/stupid to distinguish between nazi/fascist/autocrat/authoritarian/ultraneoliberal or anyone who aspires to become one of those.
What would you call e.g. these assholes:
No, the word has not lost its meaning, but it has become less niche: some of them are better at hiding it and waiting for the right time, some of them want to make people forget what it represents and a lot of people are too lazy/stupid to distinguish between nazi/fascist/autocrat/authoritarian/ultraneoliberal or anyone who aspires to become one of those.