The colourful Greenlander will lead Japan into Saturday's final against the Matildas at Stadium Australia after sweeping all before them in the competition.
Japan have cruised into the final with ease while Joe Montemurro's charges have had to fight their way to the final, looking far less slick in knockout stage victories over North Korea and China.
After his side's 4-1 semi-final win over South Korea on Wednesday, Nielsen lavished praise on the Matildas and said Australia, as tournament hosts, were firm favourites for the final.
But asked on Friday if he still believed Australia had the upper hand, the Japan coach, replied: "A question about who's the favourite in the final is like asking a bee to explain to a fly why honey is better than s***.
"We are talking about a final in a major tournament. Both teams can win.
"They have 50 per cent chance of winning ... They know precisely our strength, they know weaknesses.
"It's 50-50, why is it even interesting in the final to discuss who are the favourites?
"I will ask next time I get a chance to see a fly, 'Why the hell are you sitting on s*** when there's honey right next to it?' And then they say, 'for me, it tastes better'.
"I don't like s***. So you can have it. I go for the honey. Maybe Joe has a different opinion."
Japan have conceded just once and scored 28 goals across five impressive wins en route to the final.
Nielsen said his team lived up to their nickname of Nadeshiko - a pink flower which symbolises Japanese grace, beauty and resilience.
"I'm extremely proud of the way they work together," Nielsen said. "It's not about individuals.
"It's about the team ... We are playing a team sport - we need each other to win things, we need each other to shine.
"We can be good and it's okay (and) sometimes we can be good and lose.
"That's also okay, but we still believe in ourselves. We are still Nadeshiko, a flower.
"It's a beautiful little flower and if you see it, you just have to stop and look at it and smile and think. 'Wow, what is that?' It's the Nadeshiko, the Japanese women's football team."
