Not mention nearly every effective libertarian is not a member of the LP. There are more libertarians (non-LP types) in NH's state legislature than the LP has elected nationally.
That is true, but what real influence did Thomas Massie's libertarianism for example have on the conduct of the Republican Party while Donald Trump was president and the party had a majority in the House? To argue that Republicans believe in small government, greater freedom, and the government should not tell you what to do is laughable if you are a Republican that defends Trump's presidency. Republicans' only use for libertarian ideals is low taxes. That's it, they don't believe in anything else libertarian.
Republicans and Democrats both now believe in a strong central government with a superpowered president that rules by executive order allowing the people that agree with them do what they want while dictating laws to the people that do not agree with them. You can even see the former with the Democrats in the SALT tax reduction which considering the party's rhetoric of "tax the rich" is the height of hypocrisy.
Considering Democrats in wide swathes of the country have completely died, there's an opening there for a new 2nd party to emerge as the Republicans' predominant challenger at least on a regionalized/local level. Where I live Republicans have monopoly power on county government. Democrats did not run a single candidate in 2020. There's still a lot of pissed off business owners and individuals about the actions of county government, and it's not like these people embrace the Democratic Party.
If by conduct you mean record, you definitely had more Republicans opposing militarism globally than we've seen in a long-time and that's probably the most issue libertarians care about. I'm not sure what the party itself believes, but I can certainly see the base of Republican voters right now being more willing to deal with libertarian issues either because they have moved that way in recent years or because of the left pissing people off so much. It's easier to argue for removing kids from public schools in this era due to CRT and wokeism. It's easier to argue about big tech, the media, government censorship, civil liberties being violated, etc in this era. 10 Years ago, the GOP would not have cared. As a result, much more liberty-minded individuals have been getting elected both federally and locally.
The LP is and always will be a mess. The LP wants to be a relevant party and as a result, focuses on catering to a group of people that will never submit to its ideas. That ruins any purity and is quite hypocritical.
