Another freedom party makes sense only if your goal is A) to displace the LP or B) to start an explicitly anarchist party. Competing with the LP to improve it makes about as much sense as Henry Waxman starting his own Democrat Party in order to replace John Dingell as the Energy And Commerce chair. Instead the Democrat caucus narrowly chose Waxman over Dingell, and then united to shove that choice down the throats of the Republicans.
The difference between a Party and a Caucus is politics 101. A Party is for uniting all the voters who cluster around a common policy goal/direction. A Party uses caucuses to settle internal disputes over strategy, tactics, or candidates -- and then comes out united and swinging. Splitting from the Party over such disputes is inane if killing the old Party isn't your goal.