I think you're onto something, but you're missing a really key point of what makes a counterculture.
Consider the 'culture'. Whose side is the balance of power really behind? There are massive influences and money behind traditional christian and conservative values - they have a practical stranglehold on the politics of roughly half of America (by landmass). Is it really 'counter' the culture to embody those values in areas where they are the norm?
I think we don't have 'a' counterculture because we don't have 'a' culture, a unified one, in this country. Trad is as counterculture in California as radical queer/left ideology is in Alabama, and it gets muddier when you look at individual pockets of the opposite in rural areas or cities respectively.
If anything, this cultural split over core values would make anything else - 'radical centrism' for instance - a counterculture in and of itself; except, that tends to be the tack taken by a lot of media (NPR, Meet the Press, etc.). Can that be counterculture?
Alternatively, consider outside of mainstream politics. Co-op organizations, hacker/DIY circles, and protest movements are all certainly 'counter' the norm, but do they all have their own 'culture?' At best they have shared memes, no real ideological unity or even goddang clothing preferences.