This seems to be a quote or paraphrase of R Elchonon about Z:
Nothing is asked of a Jew but national feeling. One who carries shekels and sings Hatikva is exempt from all the commandments of the Torah. Clearly, this approach is considered idolatrous in the eyes of Torah.
This seems to be talking solely about anti-religious Z, not Mizrachi. Maybe, he takes on Mizrachi in some other place.