I don't think it's as simple as Mussolini being some fat idiot who couldn't do anything right.
His track record is really poor in other areas besides his decision to join the war. I don't feel it's inappropriate to disparage him as an idiot with multiple failures. The Battle of the Lira is a great example of a failed policy (which applies to the wider problem of poor living standards throughout the tenure of Mussolini and the PNF). Then there's the whole Battle for Wheat. (Really? Wheat? He's not even trying to win Vic2.
If he had a better track record prior to 1940, his gamble might seem more audacious. But in light of his other actions, it seems more like going for Germany's scraps than an audacious attempt to gain influence as a Great Power.
EDIT: I completely forgot to mention the absurdly high costs of war in Ethiopia and Spain compared to Italy's GDP. That, to me, is a strategic failure to plan ahead.
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