I'm going to give this one more try without the metaphor because I think this is an important point that everyone should understand.
Cutting funding to AIDS research and medical care is a very fascist thing to do, and fascist Republicans are the ones responsible for doing it. Fascists are what formal logic would label the proximate cause for the change. Events also have what are labeled as distal causes which include the broader set of circumstances that led to the event happening. In that case that would include the societal factors that led to the rise of fascism in the first place. That is where neoliberalism gets to shoulder some of the blame. Neoliberals aren't the ones cutting AIDS funding, but they set the stage for fascists to take over.
Neoliberal policy has led (as it always does) to massive wealth inequality and a general mistrust in government. That leads to populist movements. Populist movements seek to reform "the system" to fix real or perceived injustices. They can be positive (think Bernie or AOC) or negative (think MAGA). Negative populism includes racism, xenophobia, nationalism, and all kinds of scape goating. When politicians ride negative populism into power, that is fascism.
In a society like ours with record setting inequality and a marketplace where predatory corporations are ripping people off as a regular business practice, stopping populism is like trying to stop a tide from coming in. Neoliberals (Republicans and Democrats) have been trying to do that for 50+ years. When "anybody but Bernie" Democrats crashed into MAGA and Trump, the rise of fascism and, ultimately, the end of funding for AIDS research was locked in. Democrats fought tooth and nail to suppress healthy populism, so most of the populist ferver went to supporting Trump.
Populism is here to stay, until some real reform starts to happen. As long as Democrats keep trying to suppress it, fascism will continue to benefit.
Neoliberalism and liberalism are two different things. You can't just swap out one for the other. It's precisely the difference between the two that ultimately result in fascism.
Biden, in stark contrast with his predecessors and his own congressional record, moved away from neoliberalism. All of the good things he did were a direct result, but they were far too little and far too late, as evidenced by the routing of Democrats in 2024. Democrats tried to blame it on a global rejection of incumbents, but the lie of that is demonstrated by the one big exception, Mexico. Mexico, a far more conservative country than the US, somehow managed a successful transition from an aging male left wing leader to his chosen replacement, a younger female. The difference is that those leaders were populist left, not neoliberals. Media propaganda is just as bad in Mexico too, so that doesn't follow either.
Digging further into the right wing takeover of media, that is a direct outcome of neoliberal policy and doomed Democratic efforts to suppress populism. For corporate media, neoliberalism allowed corporate consolidation to turn all the cable news sources into media wings of the two parties. Online media is different.
10-20 years ago the online media space was absolutely dominated by grass root progressives. Democrats and Republicans cooperated to pressure social media companies to start driving users to more "trusted" (corporate owned) media. Democrats assumed the job was done and largely disengaged while Republicans began investing in and networking right wing voices online. Again, Democrats suppressed healthy populism while Republicans fostered and tried to make use of right wing populism. Ultimately, right wing populism couldn't be controlled and, with Trump's assistance, it ended up overrunning the Republican neoliberals.
What you described is not an alternative to what I described before, it's just the details of how it played out. Even now there is a lot I'm leaving out, but I'm really not looking to write a book here.