First past the post strongly favors the existence of two viable political parties in any given geographic area in the long run equilibrium. But, it does not prevent a multiparty system if different geographic areas have different sets of leading political parties.
The U.K. and Canada are both examples of how this can work out. In addition to center-left and center-right parties, both have regional nationalist parties (e.g. the Scottish Nationalists and Parti Quebecois) that do not fit neatly on a political spectrum. Northern Ireland has a completely different set of political parties than the British ones. Canada has, at times, had a different right leaning party in the Western Provinces and in the Eastern Provinces.
There are also multiparty systems during brief transitional periods of time when one party is on its death bed and another is waxing. You saw this in the United States briefly, for example, when the Republican Party briefly coexisted with the previous parties of the same general part of the political spectrum before they withered away.
There are also incentives in first past the post systems to create third parties similar to existing ones to serve as spoilers, but this is more of a dirty political trick than it is a good faith natural evolution of the political system.