It can be both. The Bolshevik revolution scared the rulers of many European countries, and its capitalist class. People were very impressed that a regime as stable as that of the tsar could fall like that. This is a regime people invested in at the time because it was considered safe.

It is arguably as a consequence of this, that these rulers and capitalists supported more or less enthusiastically fascism as a way to contain the masses. Without that (implicit) support, it's hard to say whether fascism would have been anything more than a bizarre cult.