It's generally agreed that Hitler's lofty goals IOTL were so far removed from reality that an Axis win is virtually impossible.
What if he had less unrealistic, though still horrifying, goals?
Example: Hitler believes in uniting most of Europe under German hegemony, but slow elimination of the "inferior" races is preferable to immediate genocide, and cultural conversion to wholly German culture is acceptable for those other races. Maybe believes in a Bantustan-like system for Eastern Europeans.
In addition, this is a slow process as he believes that even the German race cannot conquer a vast number of people immediately. So he bides his time, secretly building up a nuclear weapons program and German population prior to starting the war in around 1950.
These are all just ideas, but the question is general: Are there any circumstances under which a Hitler with less extreme goals could convincingly win a world war?
This may be quite a frightening prospect, but I don't have much knowledge about the era, and am curious.