There is always room for a "spin-off" of the big centrist party whose members can then claim to represent the new centre. But the effect is the same: the far-right or far-left will get more weight.
That's essentially what happened ten years ago, and it never ends well. As much as I dislike the two-party system, it's a necessary evil to keep the ball rolling.
I honestly blame Barack Obama and the movement that propelled him to the presidency for the type of political radicalism and divisiveness you see today. Think about the early 2000s, going back all the way to the end of WWII. No matter which party was in power, people still worked together. For that matter, listen to Joe Biden's eulogy at McCain's funeral, lamenting the fact that Rs and Ds can't be seen together any longer and recalling better days as recently as the late 90s. As he put it, congressional leaders could "fight like hell" on the Senate floor and then go have lunch together afterwards to work things out.
I once worked an event where former Speaker Newt Gingrich gave the keynote speech, and he talked about those better days prior to Obama by recalling his relationship with President Clinton. He and other leaders from both sides would scream and yell and fight for hours in the House chambers, they'd give angry interviews denouncing their opponents, but people understood it was just theater. And quietly, in the middle of the night, Newt would gather his staffers, Clinton would gather his staffers, and they'd meet in secret in the backrooms of the Capitol or White House and work out their differences in legislation. And that's the last time we truly had a balanced budget.
When Obama came around--a political neophyte with zero executive/administrative experience--and demanded we nationalize the country's healthcare system, that shit was going too far and it riled up the country. When the bluest state in the nation elected a Republican (Scott Brown) to stop Obama and he then ordered the Senate to end the filibuster so they could ram through his signature legislation, that shit further riled up the country. And then he made it acceptable to villainize his opposition. If you didn't agree with him, you were "immoral" or "evil" or "stupid." If you didn't want his new brand of socialism, it's because you were racist, or didn't care about black/brown people. You were, as he put it, "typical white people" who "cling to their guns and religion" as an excuse for hating immigrants and minorities. And that gave rise to the Tea Party Movement, the end product of which I think was Donald Trump becoming president. When you normalize or even romanticize radicalism on one side, as Obama and his enablers in the media did for eight years, you give birth to radicalism by your opponents.
Joe Biden, before he went fully senile, made a very intelligent observation on political discourse: "You can question your opponent's logic, but never his motive." Once you question motive, the conversation ends. You can only poke, prod, disparage and shit on people so long before they turn to drastic measures. You spend eight years telling working-class white people that they're dumb, racist, homophobic or just plain awful because they don't agree with you and Karl Marx and they end up electing a Donald Trump. Conversely, you spend four years praising white supremacists and treating the black community like illiterate political pawns and they go and fuck you over by electing actual communists to Congress in a solid red state.
Both parties need to wake up and expel the radicals in their ranks, but I don't honestly see that happening any time soon. I think the far-left taking over Congress, combined with a president incapable of keeping them in line and eager to placate them, is going to have major repercussions that will result in another political movement similar to what we saw in 2010 and probably more passionate (dysfunctional).
But, if it ends up with me getting another six-figure job in D.C., access to the Capitol's perks and a fancy badge to wear on my tailored suit lapels while I undo the zipper on my fancy tailored trousers to formally administer another oral interview with another college intern, fuck it. I'll play along again.