I agree that we've seen great swings and shifts in alliance systems along the game, perhaps hugbox is not the best word to describe it, but the second coalition was completely unnecessary as Italy would still have needed to dispossess GB or Mughals of at least one VC to get into the top 3. This speaks to StarNan's diplomatic abilities, really. Even if Da9l is emotional about it and this a tad bit unrealiable, it is unquestionable that GB's triumph has been weaving these massive alliances that have done a good deal of the job for them. Their alliances are their only strength, aside from the navy, but that one is a given. Most impressive is keeping the alliance together when several of its members have a clear interest against it: Russia's VC on Mughals, Ming's rightful clay in filthy Anglo-Bahmani lands, mostly. This is not to say that they should help the Fritalians because of that. It could easily lead to disaster for both, especially the Ming. Also noteworthy is Mamlukian neutrality. There is little doubt for me that a Fritaly+Mamluks+Russia+Ming could thrash the British hugbox.
Also, your argument of lack of time is contemptible. Italy had been cut down to size in the previous session. It only needed to be cut down again because an attempt to cut them down further for no apparent reason failed spectacularly and backfired in every participant's face. It was Groogy, R-Lazer, TheLetterZ and Rufo's decision to give away the game to the leading trio. Of course Bahmanis would still very likely hold #1, but Mughals and GB could have been taken down. When I say there is nothing left for us to see I mean that this session, with its two completely redundant coalitions against Fritaly, demonstrated that the first coalition has become a more permanent alliance system, unlikely to either change or, if changed, having an effect on the scoreboard. The devs effectively decided to kill the campaign one session too early.