Yup, it's really is random, the big wins and losing streaks can happen at any time.
I have no problem with loss limits on negative games. In fact, I use one myself. I stop right before I play the first hand.
If one elects to play 99% machines rather than 101% machines, doesn't this afford the good old American freedom of opportunity to press the button at a 2.02% better rate than the average person in order to retain the 1% edge?