Nazism means national socialism.
It was not based on individualism.
And it was not based on capitalism.

From Unlearning Communism:

On the other hand, twisted mind of Adolf Hitler has described those competing individuals as swarms of rats. What a shallowness, but rather expected shallowness from one of the worse writers ever, positioned just one place below the Marx. That scenario will never occur because bonds of different strengths will keep forming and dissolving between individuals, never leading to such bitter end envisioned in Hitler’s mind, because such situation would be lose-lose situation for all the participants. Moreover, I wasn’t able find a single example of described situation, shown in practice, on any scale. Even in reality shows such as Survivor, in which only one person can win, the initial group is constantly evolving, fostering loyalty and comradery until the very end, until there are only two contesters left. The world is never turning into Hobbesian nightmare and perpetual war of everybody versus everybody, unless authoritarian government blinded by ideology decides to create it.

From Mein Kampf:

It is much the same with the Jew. His spirit of sacrifice is only apparent. It manifests itself only so long as the existence of the individual makes this a matter of absolute necessity. But as soon as the common foe is conquered and the danger which threatened the individual Jews is overcome and the prey secured, then the apparent harmony disappears and the original conditions set in again. Jews act in concord only when a common danger threatens them or a common prey attracts them. Where these two motives no longer exist then the most brutal egotism appears and these people who before had lived together in unity will turn into a swarm of rats that bitterly fight against each other.

If the Jews were the only people in the world they would be wallowing in filth and mire and would exploit one another and try to exterminate one another in a bitter struggle, except in so far as their utter lack of the ideal of sacrifice, which shows itself in their cowardly spirit, would prevent this struggle from developing.

The Eternal Jew
(Der ewige Jude)

In order to understand the mindset of ideology that led to Holocaust, you must see what they were using to spread propaganda.

This short movie will show you how national socialists used to see trade, individualism and manual labor.

Video includes the interpretation of the movie provided by Dr. Jordan Peterson.