I think it has, in recent years, become more of an anti-GOP party than a truly libertarian party.
You got that right. The LP always goes directly after the GOP, and never after the RATS.
I wonder just why is that.
I once used to consider myself a large-L libertarian (voted for Browne over Dole, and even retrospectively can't say I regret the decision; if the Republicans hadn't staked all their political capital on that loser, they could have gained strength in both branches of Congress and kept Clinton in check). Until recently, I've considered myself a small-l libertarian, perceiving that the libertarians were often right but the party was not effective at advancing its platform. But the Libertarian Party has gotten so bonkers that I see no reason to desire association with it in any way, shape, or form.