Self-play red team is an established approach to improving AI safety in which different instances of the same model play attacker and defender roles in a zero-sum game, i.e., where the attacker tries to jailbreak the defender; if self-play converges to a Nash equilibrium, the model is guaranteed to respond safely within the settings of the game. Although the parameter sharing enforced by the use of the same model for the two roles improves stability and performance, it introduces fundamental theoretical and architectural limitations. We show that the set of Nash equilibria that can be reached corresponds to a broad class of behaviours that includes trivial always refuse strategies and oracle-like defenders, thus limiting practical applicability. We then show that when attacker and defender share and update the same base model, the dynamics collapse to self-consistency, so that attacks do not enforce adversarial pressure on the defender. In response, we propose Anchored Bipolicy Self-Play, which trains distinct role-specific LoRA adapters on top of a frozen base model, thereby maintaining stable optimisation while preserving adversarial pressure through explicit role separation. In relation to standard self-play, we show up to 100x greater parameter efficiency than finetuning and consistent improvements in safety compared to self-play fine-tuned models. We evaluate on Qwen2.5-{3B, 7B,14B}-IT models across widely used safety benchmarks, showing improved robustness without loss of reasoning ability. Cross-play experiments further show that our attacker and defender models are superior to self-play in terms of adversarial defence and safety.