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"Lend-lease" is a marketing buzzword which kind of shows how retarded American politicians have always been. While the Soviet Union had a vastly larger population to Germany, most of it was concentrated in the westernmost regions of their territory. Siberia, vast as it is, was, and still is, comparatively sparsely populated the further east you travel through the interior.

In simple terms, Germany went to war with late WW1 era equipment not due to that equipment being superior, but rather, because Germany had significantly less industrial capacity and population than its enemies. I suspect that if Fascist Italian leadership had made more forward thinking decisions to deal with their domestic problems while working to partner with Spain and France to mechanize their agricultural and other industries, while selling their surplus to Germany, things could've gone very differently. An effort to establish a confederation of Latin countries geared to making its agricultural and industrial surplus available to Germany might've produced some interesting results. At least, more enduring than Italy's efforts to relive the glory of Rome, in their attempt to reconquer parts of Africa.