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Isn't this just old-fashioned winner-takes-all politics in a nutshell? Both main parties hate each other and try to amplify the differences in policy to try to imply more plurality of politics than is really the case. But both hate any new upstarts who want to take away their gravy train even more than they hate each other and they will gang up on anyone or anything trying to upset the status quo.
c00ps
Aren't both parties pretty much the same*, other than a few licks of paint? Both in hock to BigMining, and both eager to prevent any movement away from a two-party system.
* caveat - I know very little about Aussie politics.