To me, the horshoe theory is just a step in the right direction. It shows the limits of a straight 1D line to describe politics, and is a stepping-off point for deeper exploration.
Ideally, maybe we would describe a person's politics with something like a tensor, where each value is the person's support of a specific policy.
Hmm. I guess I feel that "The Horseshoe Theory" is worse than useless. It implies that as someone gets "too much" Right or Left, they inevitably become authoritarian, as if centrists cannot be authoritarian. It equates "weirdness" with "bad". I'd argue that we should skip straight to identifying "authoritarianism" as the problem, and the not having weird or even extreme leftist or rightist ideas.
Ideally, maybe we would describe a person's politics with something like a tensor, where each value is the person's support of a specific policy.