While there is no place for moderates in today's Liberal party it was traditionally a mainstream party representing a broad range of interests on the other side of the class divide to Labor.

Turnbull held lots of humanist small-l liberal views which I personally respect as much as I dislike many if the things he did. Fraser was also a proponent of humanitarian causes. The AusDems were created by SA Liberals and were the biggest minor party from the late 70s to mid 2000s. Xenophon was also a young lib I think. They also produced people like Bernardi and Hanson but in the old days they had more depth. It was consensus politics that made these big parties successful and gave them broad appeal.

Australians were sensibly distrustful of populist single issue parties until social media brainwashing became a thing.

Never forget that the ALP is also a very diverse party. After Whitlam the anti-socialist Catholic DLP people came back and became the dominant Labor Right faction backed by unions like the SDA. While they are banning protests, sucking up to lobbyists etc there are people in their own party who hold very different views to them. Without this broadness the ALP might be sitting somewhere between the Greens 10% and Socialist 0 instead of totally dominating but it definitely feeds the view that LibLab is a uniparty. The risk of a party with such diverse interests is that it stands for nothing but getting elected. The ALP once thought Mark Lathham should be our PM. Probably lots of Labor voters agreed.