The Nazis weren't socialist. The "socialist" part in their name came from an earlier incarnation of the party, when it was an alliance between a socialist group and a nationalist one, but by the time they took power the socialists were long gone. The party's main backers were industrialists and aristocrats. Large corporations were extremely powerful and had extensive political influence under Hitler. Worker's rights were gradually stripped away, unions were busted and replaced by party organizations that followed the management's whims. Private companies used slave labor provided by the party. Virtually nothing in Nazi Germany happened under direct government authority, everything was contracted out to business, large and small, and it often compromised the war effort, particularly when it came to weapons development, where massive amounts of resources were invested into parallel competing efforts from different companies or mismanaged projects where the company wanted to do something different from what the government wanted.
A major factor in their loss was that they were up against countries that effectively became centrally-planned during the war (America and Britain) and one that was already Communist while Germany was dragged down by corporate bickering, greed, and rivalry, for example in Allied countries the best design of fighter, bomber, or tank would be chosen and then companies would be ordered to produce it based on production capacity even if they'd proposed a rival design, while in Germany that was a very rare occurrence.
There are no lefty talking points here, this is extremely well-documented history. Richard Evans' books are the most comprehensive and relatively concise summary of this information, go read them.