The idea is that feudal ideologies are making a comeback with the rise of an aristocratic class. These ideologies are finding support amongst the (conservative/reactionary) lower classes as they try to process why their lives are getting shittier without being provided a clear logical explanation. Thus they reach backwards for older more authoritarian models to try to restore their power. What is missing is the narrative of class struggle.

From the linked wikipedia article:

"It broadly rejects egalitarianism and the view that history shows inevitable progression towards greater liberty and enlightenment (thus, it is in part a reaction against "Whig historiography").[1][2] The movement favors a return to older societal constructs and forms of government, including support for monarchism or other forms of strong, centralised leadership such as a "neocameralist CEO"[3] of a joint-stock republic,[4] coupled with a right-libertarian, conservative or other approach to economics."

There is an idea circulating that the political system in the US is turning into a "neo-feudalism", pushed by a mix of those alt-right "theorists" and some of the new rich.

How much of this "neo-feudalism" shares with actual feudalism is not clear to me.

See

https://www.thedailybeast.com/californias-new-feudalism-bene...

https://www.nationalreview.com/2014/07/new-feudalism-fred-ba...

https://www.huffingtonpost.com/john-w-whitehead/the-age-of-n...