Why is the line at infinity a one-dimensional manifold, i.e. why is it truly a "line" at infinity and not a plane? Is my reasoning below at all correct?
(When I say "dimension" I mean "real dimension" if talking about $\mathbb{RP}^2$ and "complex dimension" when talking about $\mathbb{CP}^2$ -- I do see why the complex line at infinity would be a two-real-dimensional manifold if the real line at infinity is a one-dimensional manifold.)
Naively, it seems like the line at infinity has two degrees of freedom, not just one. For either $\mathbb{RP}^2$ or $\mathbb{CP}^2$, it seems like one should have the following "basis" for the line at infinity: $$(1:0:0), (0:1:0) $$
Note: while writing up this question, I think I may have already thought up of an answer, so my attempt (which is long and not very rigorous) is included as a community wiki answer below, and I will add the (proof-verification) tag.
However, I more or less only want to know any elegant answers/proofs which you may have, rather than whether or not my tentative answer is correct.
Here is a bit of geometric intuition for the line at infinity. One of the motivations for working with the projective plane is that any two lines on $\mathbb{P}^{2}$ intersect (unlike the affine plane). How is this related to the line at infinity?
Well, if you have two parallel lines $L_1$ and $L_2$ in the affine plane $\mathbb{A}^2$ with the same slope $m$, we know they won't intersect in $\mathbb{A}^2$! So we want to keep track of these parallel slopes. So we define $L$ to be the "line at infinity" to consist of the distinct slopes (which is inherently one-dimensional, as the slope is a value taken from the base field). Now we know that $L_1$ and $L_2$ will intersect in $\mathbb{P}^2$, in fact they will intersect at the point $m\in L$. Does this help at all?