That’s the point of having two similar yet distinct characters. Most people don’t look at capitalism and see fascism, they appear distinct to most, so having them both be Homelander would be a poor visual analogy.
To me, an ignorant person who has only begun to seriously question capitalism after being exposed to lemmy for about a year, this visual analogy seems to imply that capitalism and fascism are thought to be distinct in the eyes of the maker of this meme, though. I think the suggestion of having them both be homelander conveys a different message which seems to be the consensus here: they are different sides of the same coin.
Admittedly, I’m out of my element here but I’m enjoying the exposure.