It's a great tragedy if they felt threatened by capitalism, and capitalism by communism, in a self-perpetuating way that could have been avoided.
But I would argue that capitalism has its roots in aristocracy, imperialism, and private ownership (i.e. slavery, colonialism, and systemic exploitation), to an extent that it is fair to say that capitalism cannot co-exist with communist ideals.
But yes, European countries were heavily influenced by communist ideology, which continues to shape our values today, about well-regulated free markets, fair taxation, public service, and so on, which directly threatened capitalist interests, and arguably that's why we're seeing a rise in fascism, in an attempt to remove these communist ideals.
To be clear, I am confused on this matter, but I do think that the Europeans have been foolish to follow US doctrine for the last 50 years (since Reagan/Thatcher), and especially the last 10-20 years have been devastating on virtually every sector of the economy.