the only thing that saved us was cooler heads that prevailed on both sides.
In the field International Relations, there's lots of discussion around the stability (or instability) of a bipolar distribution of power. Your stance is closer to neorealists, mine is maybe closer to classical realists. Have fun reading https://en.wikipedia.org/wiki/Polarity_(international_relati... and related links
But from a game theory perspective, having only two powers turns everything into a zero-sum game. I argue that leads to less cooperation and increased divisiveness. Not agreeing with Republicans means you must be a Democrat in their eyes. This "us versus them" mentality is somewhat tribal and leaves little room for nuance.
If I had a magic want, the US would have a 4 party system. Like a cartesian plane with civil liberalism <-> conservatism on one axis and economic liberalism <-> conservatism on the other axis
I suppose they must account for this somehow but isn't that exactly what a series of proxy wars in far-flung places between the United States and the Soviet Union were?
I wouldn't call that a "routine" matter.