It's what most politically educated people use in the US.
The graph has flaws, though. For example, the graph only takes economical and personal freedoms into count. The type of Libertarian who stops at that (at the tip of the graph) does not take social struggle into recognition.
So the graph assumes that the higher up you are, the better (which is true), though that only takes care of liberty, not equality.
Some may argue that it isn't a diamond, that it's a square, so you can be left and right wing libertarian.
_________________
'Tis better to die on your feet than to live on your knees.
"Those who make peaceful revolution impossible only make violent revolution inevitable"