Because its not real socialism.
Venezuela, like Cuba, North Korea, China and the USSR were feted by socialists the world over, right up until their failings (often in the form of millions of people starving to death) became visible to the world.
Then of course they ceased being real socialists.
http://www.socialistinternational.org/viewArticle.cfm?Articl...
Not all, of course. Socialism is a broad camp. But many.
Edit: and in fact they're still at it in Australia, where I live:
https://www.greenleft.org.au/content/venezuela-solidarity-gr...
Edit:... and how about Castro? Is he your idea of a real socialist? https://www.ndtv.com/world-news/hugo-chavez-and-fidel-castro...