Bring a large pot of heavily salted water to a boil over medium-high heat. Meanwhile, heat 1 tablespoon of the olive oil in a large, high-sided sauté pan or Dutch oven over medium-high heat until shimmering. Add 5 sliced hot dogs and cook, stirring occasionally, until browned all over, about 3 minutes. Using a slotted spoon, transfer to a medium bowl.

Add the remaining 1 tablespoon olive oil and 4 minced garlic cloves to the pan. Cook until lightly browned, about 30 seconds. Add 1 finely chopped medium yellow onion and cook, stirring occasionally, until softened, about 3 minutes.

Add 1 pound ground beef, 3 dried bay leaves, ¾ teaspoon kosher salt, and ¼ teaspoon black pepper. Cook, breaking up the meat with a wooden spoon into bite-size pieces, until browned and cooked through, 6 to 8 minutes.

Add 2 tablespoons tomato paste and cook, stirring frequently, until the tomato paste is slightly caramelized, about 1 minute. Stir in the hot dogs, 1 (28-ounce) can tomato sauce, 1 cup water, ¼ cup ketchup, 2 tablespoons soy sauce, 1 tablespoon fish sauce, and 1 ½ teaspoons granulated sugar. Reduce the heat to maintain a simmer and cook, stirring occasionally, until the sauce thickens slightly, about 10 minutes.

Meanwhile, add 1 pound dried spaghetti to the boiling water and cook according to package directions until al dente. When the pasta is ready, drain and return to the pot. Add ¾ of the sauce (about 5 cups) and toss until the pasta is evenly coated. Serve topped with the remaining sauce and shredded cheddar cheese.