Captain Nazi thinks Thor is much too nice to "non-Aryans" to be the carry the title of German god of thunder, so he wants to kick Thor's butt and take his hammer (of course, one may assume that Captain Nazi doesn't know that it can't be taken that way). I don't know the slightest thing about Captain Nazi and I don't care that much about his past, history, background, plot, etc, but I hear he's some kind of Nazi supervillain who's pretty powerful, and it would sort of be an interesting match because Thor is a Germanic deity, and they were idolized by the Nazis (also because of Wagner's operas).
As always, super-speed is deactivated to make the fight closer because Thor probably doesn't have any.
__________________ "Crush your enemies. See them driven before you. Hear the lamentations of the women." - the prophet Mohammed, single-handed inventor of terrorism, pedophilia and moon-god worship
I remember that in order to make Captain Nazi versus Captain Marvel a real fight, they had to have Billy dividing the power between himself, Freddy and Mary. Wonder Woman beat the living snot out of Captain Nazi. It wasn't even a fight. Captain Nazi, last I heard, is nowhere even close to Cap/ WW/ Thor level.