A major component of a strategy is constraint. In other words, what are you going to give up? If you're going to do All The Things, that isn't a strategy, it's a wishlist. You have to bring constraints into the picture before anything like a strategy emerges.
This is exactly right, the most important thing that makes it a strategy is what we cut ourselves off from doing. If we're only hiring seniors, we don't get access to cheap graduates who can stay up all night. If we play a high line, we can't sit deep and wait for a counterattack.
The basic thing that makes a plan a strategy is it stops you from doing "the everything". A constrained menu of actions can still contain variability but it reduces the scope for total chaos that happens when you try to do absolutely everything.
It's quite possible that two opposing strategies can both work, but that allowing the team to do both at once will fail. That's called straddling. For example it's hard to appeal to exclusivity and the mass market at once, but businesses have done well doing one or the other.
