The US had more than two organized parties in the past, so it can happen again.
I think it should, cause at least that way you can have people voting for what they like, not for some brands which are bought and paid for by big company interests (pharma, wall street etc)
And how soon do you think it'd be before those big money interests buy the newly organized parties?
And how long before the political folks from the old parties take over effective control of the new parties?
I'm no more of a fan of the two-party system in the US than anyone else - in fact far less so, as a big-L Libertarian - but we as a country can't even seem to punish Trump for neutralizing the Federal Election Commission, which itself is by law composed of only Republicans and Democrats. Literally the only thing Reps and Dems agree on consistently is that third parties cannot be allowed to gain traction, and indeed any third-party candidate coming close to an existing Rep or Dem in an election is vilified because the more popular they are, the more likely they are to hand the seat to the Rep or Dem farther away from their position.
I've put a lot of thought into this, myself, and the only way to do it is with a wildly popular (independent of existing politics, that is) third-party middle-of-the-road candidate with two meh-but-not-horrible R/D candidates that maintains a really solid presidential administration enough to start getting senators, congresscritters, and governors elected under the same label in the next couple elections. If Perot had been sane he might have had a shot.