Yes, I've pointed out on many occasions that Gygax's definitions of law & chaos were not anywhere near as coherent as they should have been, sometimes overlap with good & evil, and do not achieve the primal importance of good & evil to the typical fantasy campaign setting.
TSR's Planescape Campaign setting from 1994, written by David Zeb Cook, did manage to integrate law & chaos into the setting in such as a way as to truly rival good & evil in importance, though it still suffered from the conflation of several distinct concepts into each of law & chaos, since this was perpetuated from 1st edition to 2nd edition AD&D (the latter also by David Zeb Cook).
It's certainly possible to conceive of a setting with a clearly-defined, orthogonal, important 2nd axis of alignment. The Thief trilogy, for example, has an opposition between the lawful Hammerites and the chaotic Pagans, with the villains of the first game being evil Pagans, and the villains of the second game being an evil offshoot of the Hammerites. Arcanum effectively has technology versus magic as its 2nd alignment axis.