I don't entirely agree with your analysis, but your balance is a detente of sort!The definition of an oligarchy is a small group of people having control of a country, organization, or institution.
Given the control that the small group of the very wealthy have over the writing of laws including giving their bought-and-paid-for legislatures actual copies of those laws to pass, we're living in an oligarchy. The only question is which group of oligarchs control which party.
Right- and left-wing populists are united in wanting to return control of the country to the people although the disagreements are almost total about how to do that.