The term comes from the Nazi Genocide. And there's ample evidence that the Zionists collaborated with the Nazis, just as Kapos did in the camps and herding their own community into them. So it's just being illogically used as a weaponized term against Anti,-Zionists, as part of tye HASBARAH assault - just like the epithet "self-hating Jew" used to be - as started by terrorist/criminal and neo-Nazi ally, JDL founder Irv Rubin.
Evidence of the Zionist assistance/facilitation of the Nazi Genocide :
https://youtu.be/o9evhLCuA_k
https://blogs.timesofisrael.com/you-cant-rewrite-history-the-facts-will-out/ - this article is a partial admission by a Zionist, but aldo tries to cast things in the best light for Zionism. It should be taken in balance with the less sympathetic assessment by Tony Greenstein, in the Electronic Intifadah episode above it.
More relevant videos, on this subject:
https://youtu.be/FStuyUJdE3U
https://youtu.be/1J8L_Xzrgzg
https://youtu.be/oUppu2OHVTY
Accusing your adversaries, of the things that YOU ARE ACTUALLY DOING - is an old trick, and it appears to be a favorite of both the Nazis, and the collective West, sadly. Recently the ADL gave a clean bill of health to LITERAL NAZIS like the Azov Battalions, in post CIA/Nazi Coup Ukraine.