The way US elections are run makes it very hard to have anything except two dominant parties. If Yang is successful (extremely unlikely) there will still be a two-party system, it will just be his party and whichever other one still remains (probably the Democrats since they have more institutional support at the moment).
> If Yang is successful (extremely unlikely) there will still be a two-party system, it will just be his party and whichever other one still remains
That would still be a massive improvement. Unfortunately, the more likely outcome with our current voting system is to split the vote of whichever party they're aligned more closely with, and cause the other party to win.
We desperately need either approval voting or Condorcet voting, so that people can express a meaningful preference for a third party.
This is the natural consequence of our simple-majority single-ballot system. It so strongly favors the two leading parties that getting them to change it is basically impossible.
I'm curious, what is the 3rd party in your scenario?
I can see ways to count > 3 (before this announcement), and obviously there are the two competitive parties so that's a way to count, but it's not obvious to me how you got to exactly 3.