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Australia's isn't based on FPTP or anything explicitly, nefariously, anti-democratic — except the part where media ownership is one of the most monopolised of all western "democracies", or the part where most state and federal politicians are financed by the wealthiest individuals and corporations (not in the American direct payment, openly corrupt, kind of way. More in the golden parachute, regulatory capture, quid pro quo kind of way).
Interesting how 5 eyes are all stuck in a plutocratic two-party system, huh? Almost like the MIC and most advanced mass surveillance apparatus in history has a lot more influence over our politics than any of us realise...
It's true that many large established liberal democracies right now have only a maximum of two major parties with any realistic chance of holding power.
In Germany, that's the Social Democratic Party and the CDU/CSU. In Spain, it's the Spanish Socialist Workers' Party and People's Party. In Taiwan, it's the Kuomintang and the Democratic Progressive Party. In New Zealand, it's the National Party and the Labour Party. In Singapore, it's the People's Action Party and the Workers' Party.
I think I can even argue that liberal electoral democracy in general trends towards two major political parties or permanent coalitions—a centre-left liberal coalition and a centre-right conservative coalition.