My understanding is that Mussolini was an avowed Socialist before he made the costume change and became Il Duce. In mucking around with Great war alternatives this is one of the more fascinating departures. I think that if the Italian Fascists fail to take power and remain more rightist rabble rousers then we set in motion a really different world. First I suspect more traditional conservatives controlling the reactionary right, thus pro-monarchists, nationalists and so forth rather than the quasi-socialist and often truly authoritarian movements modelled upon or warped by Fascist success. This might then let the far left remain more generally divided, assuming the Bolsheviks take power and if they failed then who knows, perhaps the Socialists remain more the outcasts as rightist governments hold power more places. I think it certainly might let a "fascist" party emerge elsewhere, France or Russia seem most likely, obviously Germany but I am doubtful it is Hitler, instead I think the Freikorps and Junkers simply hold to course. And I think we seriously undermine any Spanish civil war. And I think we might see a civil war or at least a disintegration in Italy assuming right and left tug of war as the monarchy sits impotent to change. At bottom I have pondered a world without the Bolsheviks in power and thus without the reactionary Fascists, in stead the far left and right remain rooted in older traditions and the ideological struggles are far more diverse. That appears to me a far more alien timeline to how we think of things, almost fanciful in its similar yet unfamiliarity.