I don't read the launch editorial as 'both sides are bad', but as a challenge to what they perceive as a sloppy and pervasive left-wing 'default' opinion. The 'new orthodoxy' language is straight out of the ongoing culture war, in particular.

If they're aiming for a London Review of Books kind of space that makes sense - LRB is decidedly left wing if pretty heterodox and broad-minded - but for the political commentary space I would have thought the Spectator already covered a contrarian conservative perspective fairly well. But then I guess I'm not in their target market.

[Edit: I see they have got Toby Young on their editorial board. Definitely Conservative (as well as conservative), then.]