So what wasn't working with nginx was this docker-compose file:
docker-compose.hostnetwork.yml
Same nginx config with the docker-compose.contained.yml works fine.
I had to fix the netmaker-ui entry, add the missing 'v':
image: gravitl/netmaker-ui:0.12.1 > image: gravitl/netmaker-ui:v0.12.1
Maybe I need to adjust nginx to point to localhost instead of the container name, since it seems hostnetwork uses host networking mode in the containers?