@Mirgannel12 As far as I can recall, Moorcock didn't have the concept of Neutrality in his books, but it has been awhile.
The thing is, with D&D, which started the 2 axis Alignment system, since you could exist focused on any one of the extremes, without regard for the other axis, they needed a centerpoint to link the 2 axis together. A 0,0 coordinate if you will, thus was born Neutrality.
All games that came after have pretty much utilized some version of the D&D alignment system (or none at all).
In D&D, Neutrality represents those things in life that are not inherently leaning towards one of the extremes of an axis. Knowledge is Neutral, how you use it, and how you attain it can be Good, Evil, Lawful, or Chaotic, but the Knowledge itself is Neutral. Nature is Neutral, Balance is Neutral. Some might think that Balance is Lawful, however, Balance is also between Law and Chaos.
It's like a blade. It is a useful tool, and inherently neither good nor evil. Use it to build a shelter for the poor, it is Good, use it to murder someone, it's Evil. Use it with technique, like a Duelist, it is Lawful, and use it as a Brawler, it is Chaotic.
This is not to mention the fact that Good and Evil are considered based on the Morality of the individual. Different Moralities see these things differently. Law and Chaos, on the other hand, is based around Application. Is it Structured or Free-form. Is it Art or Science? Does a Lawful person always follow the Laws of the land, even if they disagree with them, and see the established government bodies as corrupt? Does a Chaotic person always ignore the laws of the land, and seek to supercede them, purely because they are laws?
Ultimately, everyone generally falls somewhere on the Spectrum between the 2 Axis. Not only that, but generally speaking, their point on the spectrum is generally not stagnant.