Yes, the reality of politics is that they are highly multipolar. The political compass is useful, but maintaining only two axes is wildly simplistic.
Moral Foundations Theory suggests there are five axes for political views. I think this theory is one of the best for explanatory power, but is still limited: https://en.wikipedia.org/wiki/Moral_foundations_theory
Suffices to say, if we look at politics through a two party, first past the post framework, I still think small letter conservatism vs liberalism is the best frame, simply because it is vague enough to be used generally.