Maybe making a distinction between fascism proper and its twin, militarism, helps.
I don't know about any fascist regimes that aren't also deeply militarist.
But maybe present-day American militarism is a sign that you can sustain militarism and democracy at the same time for at least a few decades.
Here in Austria, reviewers seemed to be evenly split in three camps: "glorifies the military too much" - "great satire" - "way too obvious, plump satire". Which means that Verhoeven got it about right, on average.
Don't think so, in this case, although other biases might play into it. After all, the source material does glorify the military. Preconceived notions on the military do color how you view it, though.
I have one friend who read the book without watching the movie first, and without knowing Heinlein's politics. This friend actually thought that it was intentionally written as a dystopian novel warning of excessive militarism.
My own take on Starship Troopers (the novel) is essentially based on the Death of the Author. I've stopped caring about what Heinlein actually thought - he generated great ideas. And Starship Troopers works as a dystopian novel on par with 1984 and Brave new World.
Just like 1984 takes communist-style totalitarian rule to its extremes, Brave New World starts from shallow consumerism, and Starship Troopers starts from a belief in the wisdom of the military way of looking at things.
So, the premise of the dystopia is that military service is a condition for voting; in addition, every high-schooler gets a propaganda class that is run by a veteran.
If a person freely chooses to become part of the military, they become subject to the usual totalitarian brain-washing, and then sent to war. If they survive, they get to share in political decisions.
Now, the decisions in that system will of course be different from the decisions made by a real democracy. The propaganda claims that these "citizens" have shown their readiness and ability to take responsibility for the state as a whole.
I rather think that instead they have shown a tendency to see violence, or even war, as a solution to problems. They have shown a readiness to submit to a totalitarian system, maybe enticed by a prospect of rising through the ranks and being in charge. They have been traumatized by war and might be suffering from the usual psychological problems that flow from that. And they have chosen not to walk away after they had seen how evil the system they had joined really was and they were given a chance (or was that a movie-only scene? I don't remember).
So I'd expect the laws passed by that group of people to be harsher and more authoritarian than laws passed by average people. And I'd expect nations governed by such "citizens" to be more likely to resort to war. And in fact, Earth in "Starship Troopers" does seem to be involved in perpetual war against various aliens.