I think you would still have strong and cool villains, yes even fascist ones, without profit motive because strong and cool villains are just fun to write. If every villain was a sniveling weasel media wouldn't be very much fun. I like a good charismatic villain.

And I mean, its also reflective of reality. Some real world "villains" ARE strong/coolaesthetically/charming/charismatic/interesting/complicated/(initially has good motives but goes off the rails with their methods)/havegoodqualitiesaswell ect ect. Its good to have a variety.